Trump Billionaire Supporter Andy Beal's Monet Bank Ventures into Crypto Lending Arena

BlockBeats News, December 6th, according to The Information's report, a community bank in Texas—Monet Bank, has entered the cryptocurrency lending field, calling itself a "digital asset-focused 'infrastructure bank.'" The bank is owned by a billionaire political supporter of U.S. President Trump.

According to its website, "Monet Bank is committed to becoming a leading digital asset financial institution, providing innovative and forward-looking solutions for the digital economy." Although state records show its assets are less than $6 billion, with capital slightly over $1 billion, it is still considered a very small community bank in terms of scale.

It is reported that the lending institution was established in 1988, originally named Beal Savings Bank. Andy Beal is the founder of Beal Financial Corp., known for his poker skills and as a major supporter of Trump's successful 2016 presidential campaign, having contributed to his own political action committee.