crypto friendly bank
CIBC
Headquarters: Toronto, Canada • Founded: 1998
About CIBC
CIBC is ranked #49 in the list of largest global banks by assets under management. It serves retail and corporate clients worldwide, offering standard commercial banking, wealth management, and capital markets access. Regarding digital assets, its stance is crypto-friendly, offering integrations with major exchanges and custodians.
Regulations & Trust Profile
Banking License Type
commercial bank license
Licensed/Regulated By
Canada Central Bank
MiCA Compliant (EU)
No / N/A
Deposit Insurance
Canada Deposit Insurance (up to $100,000)
Supported Services & Assets
Fees & Pricing
Account Monthly Fee
$10/mo
Crypto Trading Fee
1.5%
Wire Transfer Fee
$15
Crypto Withdrawal Fee
$5
Pricing Notes: Crypto services may require external account linking.
Pros
- Huge liquidity
- Global network
- FDIC/local deposit protection
Cons
- Rigid traditional structure
- No direct custody of crypto assets
Frequently Asked Questions
Is CIBC safe for crypto?
Is CIBC FDIC insured?
Yes, standard cash deposits are insured under the Canada Deposit Insurance scheme up to $100,000 or local equivalents. However, government deposit insurance schemes do not cover cryptocurrency holdings.
Does CIBC support business accounts?
Yes, CIBC supports corporate and business accounts. Startup and business verification is subject to standard AML and company registration checks.
What countries does CIBC operate in?
CIBC operates primarily in Canada, and supports international clients from CA.
What are CIBC's crypto fees?
Monthly account fees are $10. Crypto trading fees are 1.5%.
Can I send crypto directly from CIBC?
No, CIBC only supports fiat bank transfers and does not support on-chain cryptocurrency withdrawals.
Coverage
Target Audience
individual, business, institutional
Minimum Deposit
$100
Mobile Banking Apps
iOS, Android