LevelField Financial Acquires Burling Bank: Digital Assets
- Houston-based LevelField Financial, a startup focused on digital asset services, plans to acquire Chicago's Burling Bank. The financial terms were not disclosed.
- Michael Busch, president and CEO of Burling Bank, said LevelField's approach provides a "tremendous opportunity" to expand beyond its local reach and serve customers nationwide.
- Burling Bank currently offers traditional financial services alongside professional trading services.
LevelField Financial will acquire Burling Bank, creating the first FDIC-insured bank to offer both traditional and digital asset services. This strategic move, poised to close later this year, enables LevelField’s nationwide expansion in the digital finance space. Burling Bank’s senior management, including President and CEO Michael Busch, will join LevelField, signaling a significant shift toward integrated financial offerings. This deal will enable customers to access a full-service bank wiht a shared interest in digital assets without sacrificing the traditional banking services they depend on. If you’re looking for the latest financial news, News Directory 3 has more stories like this one.Discover what’s next for this groundbreaking financial venture!
LevelField Financial to Acquire Burling Bank, Offer Digital Asset Services
Updated May 29, 2025
Houston-based LevelField Financial, a startup focused on digital asset services, plans to acquire Chicago’s Burling Bank. The financial terms were not disclosed. The deal,expected to close later this year,would position LevelField as the first FDIC-insured bank offering both traditional banking and digital asset services.
Michael Busch, president and CEO of Burling Bank, said LevelField’s approach provides a “tremendous opportunity” to expand beyond its local reach and serve customers nationwide.
Burling Bank currently offers traditional financial services alongside professional trading services. The acquisition is part of LevelField’s strategy for nationwide expansion. Burling’s senior management team will join LevelField, under the leadership of CEO Gene Grant II.
“LevelField’s strategic approach presented a tremendous opportunity for the bank to expand beyond our local footprint and serve customers with shared interests across the nation,” said Burling bank President and CEO Michael Busch.
What’s next
Following the acquisition, LevelField Financial aims to integrate digital asset services with traditional banking, pending regulatory approvals. The combined entity will focus on expanding its reach and offerings in the digital finance space.