Frequently Asked Questions

Frequently Asked Questions

We have written out answers to most asked questions.

  • Wait, Mercobank is becoming a bitcoin bank?

    Mercobank has always been on the frontier of finance. Now we’re blazing a new trail by opening a Wyoming-based crypto bank.

    We were calling it Mercobank Financial, but due to overwhelming demand, it will be known as Mercobank. We’re the first (ever) crypto company to be awarded a U.S. state banking charter. It’s known as a Special Purpose Depository Institution or SPDI.

  • What is an SPDI

    It’s a bank focused on clients’ interest in a forward-facing regulatory framework with oversight from the Wyoming Division of Banking.

  • Can I open a bank account with Mercobank? When will it launch?

    Mercobank clients first and will provide more information as it becomes available.

    In the meantime, you can visit www.mercobank.com/register to create your Mercobank trading account if you don’t have one.

  • How can I open a personal current account online?

    You can easily open a personal account with Merco Bank in a matter of seconds and at no additional cost by filling out our application form on our website. This can be found on the registration page.

  • What products will the crypto bank offer?

    Our bank charter allows us to launch digital-first traditional and crypto banking products, with cryptocurrencies represented as a first-class citizen. We're looking into products like deposit accounts in USD and crypto assets (ex.Bitcoin), multiple funding and payments options, institutional custody products (qualified custody for advisors and broker dealers), IRAs and many more.

  • Will my investments be FIDC insured?

    No. However, Merco Bank will be fully reserved (i.e., no fractional reserve banking or associated re-hypothecation and lending activities). All assets will be kept on hand and available as cash or the least risky, most liquid cash equivalents. We will also maintain significant capital reserves and surpluses of our own capital to cover the full balance of all clients, even in the event of a “bank run.”

    We will operate in a safe and sound manner that prioritizes customer fund protection. Therefore, we will not have insolvency risk the FDIC is intended to safeguard. We will never need a bailout or any public-funded backstop, because our goal is to serve your needs and the needs of the community.


    Merco Bank will be an independent affiliate of the Merco Bank family of companies. It is not currently operational.

    No current operating Merco Bank entity is a bank or depository institution. DIGITAL ASSETS AND NATIONAL CURRENCIES CURRENTLY HELD IN YOUR Merco Bank ACCOUNT ARE NOT COVERED BY INSURANCE AGAINST LOSSES OR SUBJECT TO FEDERAL DEPOSIT INSURANCE CORPORATION PROTECTIONS OR THE PROTECTIONS OF ANY COMPARABLE ORGANIZATION ANYWHERE IN THE WORLD. Moreover, deposits at Merco Bank (when operational) will not be insured by the Federal Deposit Insurance Corporation.

    This page is for informational purposes only. Forward-looking statements, including product offerings, regulatory plans and business plans are subject to change without notice.

  • How can my Merco Bank accounts be credited or debited?
    You can receive Merco Bank payments only by the approved gateways on individual accounts.

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