Jewel Bank

Jewel Bank is a Bermuda-based digital asset bank holding both a full banking license from the Bermuda Monetary Authority (BMA) and a Class F license under the Digital Asset Business Act (DABA), making it the only dual-licensed institution on the island.

Its core services include multi-currency fiat and digital asset accounts, a USD-denominated stablecoin (JUSD) backed 1:1 by cash and US Treasuries, a real-time settlement network (Jewel Settle), digital asset custody, crypto-collateralized lending, and Banking-as-a-Service APIs for enterprise clients.

The bank's key competitive edge lies in combining traditional bank-grade regulatory compliance with native digital asset capabilities. It addresses two major market pain points: first, many crypto businesses struggle to access reliable banking services due to de-risking by traditional banks; second, most stablecoin issuers are non-bank entities lacking direct prudential supervision. By operating as a regulated bank, Jewel Bank can offer stablecoin issuance under a bank charter, potentially qualifying as a 'Permitted Payment Stablecoin Issuer' under the US GENIUS Act framework.

In the past six months (February to August 2026), Jewel Bank has advanced its JUSD stablecoin development, targeting a launch in the second half of 2026. The bank also reported strong operational momentum, with Q1 2026 operating revenue growing 171% year-over-year and gross profit up 228% to $2.0 million, while full-year 2026 revenue is projected at $20-22 million. No major negative developments were reported during this period.