Lead Bank will serve as sponsor bank partner to Bead, powering compliant, innovative solutions for government and businesses in the acceptance, conversion, and settlement of digital asset and digital wallet transactions.
DOVER, DELAWARE / ACCESS Newswire / October 21, 2025 / Bead, the digital network connecting government and businesses to today's customers, today announced Lead Bank as its sponsor bank. This partnership provides the regulatory strength and banking expertise to expand Bead's secure, compliant solutions for digital assets and digital wallets.
Logos of Bead and Lead Bank displayed side by side, announcing a sponsor bank partnership.
"This partnership with Lead is not just about payments, it's about growth," said Jay Sykes, CEO of Bead. "Businesses don't need more payment complexity; they need more customers. With Lead's infrastructure behind us, we're helping government and businesses reach more customers using their preferred payment methods."
As sponsor bank, Lead delivers the compliance framework and financial infrastructure to support Bead's network. This foundation supports Bead's merchant partners to confidently adopt new payment methods while maintaining trust and regulatory integrity.
"At Lead Bank, we believe in supporting companies that are shaping the future of financial services," said Erica Khalili, Chief Legal & Risk Officer. "Bead is making it easier for businesses to embrace new payment methods in a way that's safe, simple, and built for growth."
About Bead
Bead is a U.S.-based alternative payments company specializing in the acceptance and settlement of digital asset and digital wallet transactions. The platform supports both government agencies and commercial entities, enabling payments in methods such as Bitcoin (BTC), stablecoins (USDC, USDT), and select mobile wallets including PayPal, Venmo, Cash App, and Klarna.
Funds received in digital assets are converted and deposited in U.S. dollars to the designated account on the next business day, with complete shielding from digital asset price volatility.
For more information, visit https://bead.xyz
When enabled, Bead converts received digital assets to U.S. dollar for settlement to the designated account, typically the next business day after cut-off, so merchants do not take ongoing digital-asset price exposure. Exchange rates, network conditions, and review process may affect timing.
For more information, visit http://bead.xyz
Disclosures
Bead is not a bank. Banking services are provided by Lead Bank, Member FDIC. Digital asset conversion and wallet acceptance services are provided by Bead and are not bank deposits, not FDIC insured, and are subject to Bead's terms. PayPal, Venmo, CashApp, Klarna, USDC, Tether, Bitcoin, and Lightning are trademarks of their respective owners. Use of third-party marks is for identification only and does not imply endorsement.
Contact Information
Wendi Eeet
Customer Operations
press@bead.xyz
225-458-2323
SOURCE: Bead
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/bead-announces-lead-bank-as-sponsor-bank-partner-1087840
