LevelField Receives Approval to Launch First FDIC-Insured Crypto Bank

LevelField has received conditional approval to acquire Burling Bank, marking a major step toward integrating crypto into traditional banking. The deal would make LevelField the first FDIC-insured bank in the U.S. to offer integrated crypto services, enabling customers to manage both their finances and digital assets under one secure institution. Burling Bank’s existing federal insurance will allow LevelField to seamlessly enter the traditional financial system, a challenge faced by many crypto companies.