Can You Buy Crypto With US Bank After Its Custody Return?
US Bank resumed institutional crypto custody in 2025. Learn what changed, what retail customers can do, and how to buy Bitcoin safely.
- US Bank paused its crypto custody program and brought it back in September 2025.
- The OCC cleared the regulatory path in 2025 with new interpretive letters and the GENIUS Act.
- Retail customers still buy crypto the same way, by wiring funds to a separate exchange.
US Bank’s crypto custody business went quiet for a few years, then came back with a wider scope. In September 2025, the bank announced it would resume cryptocurrency custody for institutional fund managers, and expand the service to include bitcoin ETFs, a program that had gone dormant after its original 2021 launch. More in crypto investing.
The timing tracks a broader shift in Washington. The Office of the Comptroller of the Currency issued Interpretive Letter 1183 in March 2025 that was to remove the requirement that banks get advance sign-off before engaging in crypto custody.
Congress passed the GENIUS Act the same year, giving banks a clearer framework for handling stablecoins. Those two changes did more to move US Bank back into custody than anything the bank announced on its own.
What This Means for Retail Customers
None of this changes how an individual account holder buys crypto. US Bank’s custody expansion serves institutional fund managers, not retail customers wiring a few hundred dollars to an exchange. Retail access still runs through a separate platform, same as it did before the pause.
That said, the regulatory clarity behind the institutional move also lowers friction on the retail side. Banks that once treated crypto transfers as a compliance headache now operate under clearer federal guidance, which is part of why wire transfers to exchanges have gotten more routine over the past year.
Buying Crypto With a US Bank Account
Open an account with a US-based exchange.
Kraken remains a solid fit for US Bank customers. It holds FinCEN registration and state money transmitter licenses and it has stayed profitable through a period when several competitors pulled back, reporting $2.2 billion in adjusted revenue for 2025.
Complete identity verification.
This includes providing a Social Security number, proof of residence, and a government ID, and the approval takes one to three business days.
Send a wire transfer.
In the exchange’s funding section, select USD deposit and domestic wire transfer, then enter your US Bank routing and account numbers.
Wait for the funds to clear.
Wire transfers typically settle within one to five business days, depending on when the transfer was initiated and standard banking cutoff times.
Buy the asset.
Go ahead and make the purchase but be sure to check the live price before confirming an order.
Fees to Expect
US Bank does not charge extra for outgoing wires used to fund a crypto purchase. The receiving exchange is where the real costs show up, typically in a range of 0.1 percent to 1 percent per transaction depending on the platform and trade size. Kraken’s trading fees start around 0.16 percent, with free USD wire deposits.
Where This Leaves Things
US Bank’s institutional custody news is a signal about direction, not a preview of new retail features. Individual account holders will keep wiring funds to a licensed exchange for the foreseeable future, and the OCC’s rule changes mainly affect how comfortable banks are processing those wires in the first place.
Anyone selling or swapping crypto after the purchase should plan for the IRS treating it as a taxable event regardless of which bank sent the wire. Details on cost basis and reporting live in our crypto tax guide, and current platform promotions are tracked in our crypto sign-up bonuses roundup.
FAQs
Does US Bank let retail customers buy crypto directly?
No. US Bank does not offer direct crypto purchases to retail customers. It allows wire transfers to regulated exchanges instead.
What changed with US Bank’s crypto custody in 2025?
US Bank resumed a custody program for institutional fund managers in September 2025 and expanded it to cover bitcoin ETFs, after regulatory changes from the OCC and the GENIUS Act cleared the way.
Are there fees for wiring money from US Bank to an exchange?
US Bank does not add extra fees for outgoing wires. The exchange on the receiving end charges its own trading, deposit, and withdrawal fees.
How long does a US Bank wire transfer take to reach an exchange?
Typically one to five business days, depending on when the wire was sent and the exchange’s processing times.
Sources
- OCC: Interpretive Letter 1183 on certain crypto-asset activities
- U.S. Bank: Cryptocurrency custody FAQs
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Written by
Eric Nkando
I’m Eric Nkando, a crypto and crypto tax enthusiast, with other extensive experiences in forex and stock markets. I believe crypto and blockchain are no longer alien topics and I’m here to help investors tackle emerging issues of taxation and prudential investment strategies. My approach? Delivering clear, insightful analysis on digital assets, market trends, and trading strategies, bridging complex technical concepts with practical investment perspectives. My work has been widely published on leading financial platforms such as Investing.com, FXLeaders, and The Distributed.
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