Cryopreservation is the storage of viable cells, tissues, organs and organisms at ultra-low temperatures, usually in liquid nitrogen to a minimum temperature of -196 degrees C. The term, phytodiversity describes an assemblage of plants, algae and cyanobacteria; it is used to encourage a more holistic approach to cryopreserving the photosynthetic primary producers. In anticipation that encouraging exchange of knowledge across the different phytodiversity sectors sharing many common goals will facilitate their overall cryobanking activities. The main objective of the review is to explore the boundary between cryobiology theory and cryobanking practice. Natural adaptations will be considered with respect to cryopreservation protocol development and this theme includes a brief examination of 'cold' omics research. In addressing the problem of cryostorage recalcitrance, the review compares and contrasts phytodiversity from the perspective of environmental adaptation. A substantial part of the content is dedicated to appraising risk and safety issues and the microbial and pathological aspects of cryobanking. The importance of best practices for safeguarding the security of phytodiversity held in cryobanks is also considered. The review concludes by prospecting the use of the medical translational research paradigm in cryobanking.