Why banking is still the biggest roadblock for crypto companies

Exploring how gaps between crypto payment rails and traditional banking continue to make it difficult to transfer crypto to a bank account, even as crypto-friendly banks expand.

Despite years of progress in digital asset innovation, access to basic banking services remains one of the most persistent obstacles for crypto companies. While blockchain technology has transformed how value moves, traditional banking infrastructure has been slow to adapt. For many in the sector, establishing and maintaining fiat banking relationships is still a daily challenge.

At the heart of the issue is the growing disconnect between decentralised finance and the traditional financial system. Crypto businesses may operate on the cutting edge of payment technology, but when it comes to sending or receiving money in fiat currencies, they often find themselves facing outdated systems, unclear regulations, and reluctance from financial institutions.

The banking gap that limits crypto growth

For crypto companies, one of the most fundamental operational needs is the ability to move between crypto and fiat. Whether for customer withdrawals, supplier payments, or treasury management, converting digital assets into traditional currency is essential.

This raises common questions such as: can I transfer crypto to a bank account? what are the best crypto to bank account transfers? and how do I ensure speed, cost-efficiency, and compliance?

The answers are not always straightforward. Most banks do not accept direct crypto transactions, meaning the transfer must pass through a conversion step, often involving a third-party provider. Even then, companies must consider processing times, compliance risks, and the reliability of banking partners.

Are there any crypto-friendly banks?

This lack of direct banking access has led many companies to ask: are there any crypto-friendly banks? These banks are financial institutions willing to work with digital asset businesses and support crypto-related operations. However, crypto-friendly banks remain few and far between. Even where they exist, they often come with increased scrutiny, higher fees, or limits on functionality.

For businesses trying to scale internationally, especially in Europe, the question becomes more complex. Are there crypto-friendly banks that operate cross-border and support SEPA transfers? What is the availability of crypto-friendly IBANs? These questions highlight ongoing uncertainties in the banking infrastructure supporting crypto.

What are crypto payment rails and why do they matter?

Crypto payment rails refer to the services, platforms, and partnerships that enable businesses to convert crypto into fiat and route funds into bank accounts. As crypto adoption grows, businesses focus on ensuring these payment rails can operate reliably, compliantly, and at scale.

While crypto payment rails have become more sophisticated, they are not yet universally accessible. Many jurisdictions lack sufficient crypto-friendly banking options, and providers often rely on fragile partnerships to process fiat payouts. This limits the ability to provide seamless crypto to bank account transfers.

For companies operating across borders, additional questions arise about SEPA in crypto and whether SEPA payments go through SWIFT. Some providers may offer crypto-friendly IBANs or SEPA access, but these solutions don’t always guarantee speed or resilience when multiple intermediaries are involved.

Why crypto–fiat conversion remains a challenge

Even with growing demand, many financial institutions remain cautious, or even closed, to working with digital asset firms. Regulatory uncertainty and AML concerns have led many to avoid the sector entirely. That hesitation leaves businesses in a constant search for partners who understand their needs, and reliable ways to move from crypto into fiat.

This isn’t just about how to transfer coins to a bank account. It’s about doing so efficiently, compliantly, and without disruption to core operations. For many, the few crypto-friendly banks available are overloaded, expensive, or offer limited services. That means conversion routes are often fragmented or fragile, especially for those looking for the best crypto to bank account transfers.

It also raises challenges around speed and predictability. A company might receive funds in crypto instantly but wait days to access those funds in fiat, provided the banking relationship remains stable long enough to allow it.

Companies are also evaluating which payment gateway is best for cryptocurrency, and what infrastructure allows them to scale with less friction. But more than anything, the underlying issue remains unresolved: many crypto companies still lack dependable, long-term access to the banking system.

What crypto companies need next

The solution isn’t simply better platforms or faster blockchain networks. What the crypto sector needs is closer collaboration between traditional banks, fintech providers, and digital asset firms.

Until more crypto-friendly banks enter the market and more robust crypto payment rails are developed, most crypto companies will continue relying on third-party off-ramps or hybrid settlement models to bridge the gap.

That fragmentation adds operational risk and slows the sector’s ability to scale. Whether it’s onboarding users, settling payments, or managing compliance, reliable access to fiat remains a core requirement. And until that is resolved, banking will continue to be one of crypto’s biggest growth constraints.

It’s why questions like how can I accept crypto as a payment? are now often followed by deeper concerns about settlement, compliance and bank integration. Without dependable fiat access, crypto’s full potential remains out of reach.