What is a crypto neobank, and do you need one?
Quick answer
A crypto neobank is an app that gives you account details for receiving money (like a US account number or a euro IBAN), a stablecoin or crypto balance, and a debit card, all in one place. KAST, ARQ, Rebind, Brighty, Plasma One and Deblock are examples, and big neobanks like Revolut now let you spend crypto too. They're useful if you get paid in dollars or stablecoins, but most aren't banks, so your balance usually isn't covered by deposit insurance.
"Neobank" used to mean an app-only bank like Revolut or Monzo. A crypto neobank takes the same idea and runs it on stablecoins: your dollars or euros are held as USDC, USDT or EURe, and the app wraps them in familiar banking features.
What a crypto neobank usually includes
- Account details so people can pay you by normal bank transfer: a US account and routing number, a euro IBAN, or local rails like PIX in Brazil or SPEI in Mexico.
- A stablecoin balance that the incoming money turns into, and that you can send on-chain.
- A debit card that spends from that balance.
- Often yield on the balance, paid from lending or treasury bills, and sometimes trading.
The main types
Dollar accounts for emerging markets. ARQ (formerly DolarApp) gives people in Mexico, Colombia, Argentina and Brazil dollar and euro accounts with a Mastercard. KAST offers US and EU account details plus payouts to dozens of local currencies.
Euro accounts on-chain. Rebind holds your euros as EURe, pays up to 5% and gives you a free Visa and IBAN. Brighty and Deblock combine euro IBANs, crypto and cards for Europe.
Stablecoin-first apps. Plasma One and Solid focus on spending and earning on stablecoins, with bank deposits as an extra.
Traditional neobanks adding crypto. Revolut lets UK and EEA users pay straight from a crypto balance. Wealthsimple in Canada pays 1% back that can be invested in crypto. Xapo Bank is a licensed bank built around bitcoin.
How they differ from a bank
The big one is protection. Money in a regulated bank account is usually covered by a deposit guarantee up to a limit. Stablecoins in an app are not, even if the company partners with a bank. Yield also comes with risk: "up to 5%" is variable and depends on where the app puts your money.
Many apps also convert every payment between currencies, so check the FX fee. KAST charges 0.5% to 1.75% depending on your country (and nothing on 16 Latin American currencies until the end of 2027), while ARQ doesn't publish its spread.
Who they suit
- Freelancers and remote workers paid in dollars from abroad.
- People in countries with high inflation or currency controls who want to save in dollars or euros.
- Crypto users who want to move between stablecoins and bank money without an exchange.
If you just want a cheap card for everyday spending in your own currency, a normal bank card or a simple crypto card may be enough. Use our comparison table and filter by "bank account details" to see every card with bank rails.
Frequently asked questions
Is a crypto neobank a real bank?
Usually not. Most are e-money institutions, crypto-asset service providers or tech companies working with a partner bank. Revolut and Xapo hold banking licences, but crypto balances still aren't covered by deposit insurance.
Why would I use one instead of my bank?
To hold dollars or euros when your local currency is unstable, to receive international payments cheaply, or to spend stablecoins and crypto without moving them back to a bank first.
Are crypto neobanks safe?
They're as safe as the company and its partners. Keep only what you need there, prefer providers that publish their licences and issuers, and spread larger savings across more than one place.