LevelField Acquires Chicago Bank, Paves Way for Crypto-Integrated Banking Across US

LevelField Financial, a digital asset-focused fintech company, has secured conditional regulatory approval to acquire Burling Bank in Chicago, marking a significant milestone in the integration of cryptocurrencies within traditional banking systems. This acquisition could make LevelField the first FDIC-insured chartered bank to offer nationwide cryptocurrency-integrated banking services. The Illinois Department of Financial and Professional Regulation’s approval paves the way for Burling Bank’s transformation into LevelField Bank, with final approval expected from the Board of Governors of the Federal Reserve.