Levelfield Financial announced on November 17, 2025 in Houston that the Illinois Department of Financial and Professional Regulation (IDFPR) has granted conditional approval for its acquisition of Burling Bank, which will be renamed Levelfield Bank post‑close and is expected to become the first full‑service FDIC‑insured bank to offer certain banking and digital asset services across all U.S. states and territories. Closing remains subject to customary conditions, including approval by the Board of Governors of the Federal Reserve System to become a bank holding company.

Post‑closing offerings will include loans and credit cards collateralized by bitcoin, bitcoin rewards credit and debit cards, digital asset trading and custody, and real‑time payment and cash‑management programs targeting underbanked industries; Levelfield says services will provide true 24×7 banking and are conditioned on regulatory approvals and supervisory requirements. Gene A. Grant II, CEO, frames the approval as “an important milestone” in delivering regulated crypto banking, and specific product availability will follow closing and applicable jurisdictional rules.

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• What approval did Levelfield receive from Illinois regulators? — Conditional approval from the Illinois Department of Financial and Professional Regulation on November 17, 2025.
• When will Levelfield Bank start offering FDIC‑insured crypto services nationwide? — Services will begin after closing and required federal approvals, including Federal Reserve clearance.
• What crypto products will Levelfield Bank offer to U.S. customers? — Planned products include bitcoin‑collateralized loans and cards, bitcoin rewards cards, custody, and crypto trading.
• Who can access Levelfield Bank’s digital asset services across U.S. jurisdictions? — Availability will depend on federal and state regulatory approvals and applicable jurisdictional rules.

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