Partly. Crypto startups, DAOs and funds get accounts and can wire to exchanges, but Mercury bans exchanges and MSBs and lists buying or selling crypto through the account as grounds for closure.
| Criterion | Score | Source |
|---|---|---|
| Accepts exchange transfers | no (0) | source · checked 8 September 2026 |
| Stablecoin off-ramp | no (0) | source · checked 8 September 2026 |
| Business accounts for Web3 | partial (1) | source · checked 8 September 2026 |
| Custody | no (0) | source · checked 8 September 2026 |
| Staking and yield | no (0) | source · checked 8 September 2026 |
| Card | partial (1) | source · checked 8 September 2026 |
| Multiple jurisdictions | partial (1) | source · checked 8 September 2026 |
| Open to retail | partial (1) | source · checked 8 September 2026 |
Total 4 of 16. Yes scores 2, partial 1, no 0. A secondary source is press or a third party rather than the bank or its regulator. Unverified means no source could be found; the score stands until one is.
Scores are revised when a bank's documents change. Each revision is dated and sourced.
| 8 September 2026 | Stablecoin off-ramp | partial to no | source |
| 8 September 2026 | Open to retail | no to partial | source |
| 8 September 2026 | Card | no to partial | source |
| Jurisdiction | United States |
| Type | Business banking |
| Health tag | Watch Not itself a bank. The 2024 Synapse collapse and the consent orders against its partner banks showed the model's fragility; Mercury left Evolve in 2025 and holds preliminary OCC approval for its own charter since April 2026. · checked 26 August 2026 |
| Last verified | 8 September 2026 |
| 2023 | Partner bank Choice Financial Group consented to an FDIC and North Dakota DFI order (FDIC-23-0086b, stipulation dated 13 December 2023) over Bank Secrecy Act violations, requiring customer due diligence and monitoring for customers onboarded through fintech partners. source |
| 2024 | The Federal Reserve and Arkansas issued a consent cease and desist order against partner bank Evolve Bank & Trust on 14 June 2024 for AML, BSA and OFAC deficiencies in its fintech partnerships. In July 2024 Mercury cut off founders in Ukraine, Nigeria and other countries after reported FDIC concern about Choice opening Mercury accounts in risky countries. source |
| 2026 | The OCC granted preliminary conditional approval on 24 April 2026 for Mercury Bank, N.A., Salt Lake City (Corporate Decision 1372), after Mercury applied in December 2025. Conditions include a 10 percent Tier 1 leverage floor for three years; FDIC insurance and Fed approval are still pending. source |
Mercury's Web3 page says wires to exchanges such as Gemini and Coinbase go out under your business name so the exchange can credit them. That page is aimed at crypto and Web3 companies. Mercury's account closures page also lists using the account to buy or sell cryptocurrencies as a Terms of Service violation, so an ordinary startup moving money to an exchange runs a real risk of review or closure.
Yes for crypto and Web3 startups, DAOs and funds, as long as the company is registered in the US. Exchanges and money services businesses are refused. The account holds fiat only, so there is no custody, staking or stablecoin balance.
Not yet. Accounts sit with partner banks Choice Financial Group and Column N.A., and the IO card is issued by Patriot Bank. Mercury applied for a national bank charter in December 2025 and the OCC gave preliminary conditional approval on 24 April 2026 for Mercury Bank, N.A. in Salt Lake City. FDIC insurance and Federal Reserve approval are still pending.
Yes. Mercury Personal opened to all US residents aged 18 and over in December 2025. It costs 240 dollars a year, waived if you also hold a Mercury business account. It is fiat only and does not offer crypto.