Monet Bank, owned by Trump supporter Andy Beal, is entering the crypto lending market.

According to Odaily, Monet Bank, a small community bank in Texas, has entered the cryptocurrency lending market and describes itself as an "infrastructure bank" focused on digital assets. The bank is owned by a billionaire political supporter of US President Trump.

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

The lending institution was reportedly founded in 1988, initially named Beal Savings Bank. Andy Beal, the founder of Beal Financial Corp., is known as a poker prodigy and a major funder of Trump's successful 2016 presidential campaign, having funded his own political action committee. (The Information)