LevelField Gains Approval for Burling Bank Acquisition U.S. banking startup LevelField is one step closer to offering comprehensive cryptocurrency services. Bloomberg reports they've received regulatory approval to acquire Chicago's Burling Bank, an FDIC-insured institution. Burling Bank to Become a Cryptocurrency Hub The acquisition will transform Burling Bank into a full-service bank focused on cryptocurrency. This move positions LevelField to bridge the gap between traditional finance and the rapidly growing digital asset space. Services are expected to include crypto trading, custody solutions, and lending products. Final Federal Reserve Approval Pending While a major hurdle has been cleared, final approval from the U.S. Federal Reserve is still required before the acquisition can be finalized. The crypto community is watching closely as this could pave the way for more traditional banks to embrace digital assets. ```