BankProv Offers Financing for Ethereum-Backed Line of Credit Through Partnership with Anchorage Digital

We believe in challenging the status quo, which is why we are working alongside with some of the most innovative companies to offer next-gen banking solutions and help our customers be ready for tomorrow. We are excited to announce our partnership with Anchorage Digital, a premier digital asset platform and recently nationally chartered Digital Asset Bank.

This partnership allows Anchorage to deliver quality loan products to their institutional clients backed by Ethereum—the first of its kind in the industry. BankProv and Anchorage have found alignment in our mutual undertaking to safely enable forward-thinking companies and investors to access the value of this new asset class and answer the market’s need for more widely accessible USD financing for crypto-heavy borrowers. Our prowess into lending on cryptocurrency solidifies our position in the digital currency community as a full-service commercial banking partner for both 100%-insured deposits and cryptocurrency-backed lending.

“We’re pushing our full-service offering for the cryptocurrency community to the next level,” said Dave Mansfield, CEO of BankProv. “We firmly believe in our mission that the crypto market should be afforded the same access and rights to traditional financing tools as any other legal, well-capitalized and compliant business in America. Anchorage’s collateral management tech is world class, making them a trusted partner in the banking industry.”

Anchorage was founded in 2017 to meet the growing need for institutional custody and has grown into a full-service financial platform and infrastructure provider for the digital asset space.

“Anchorage has always been a proponent for broad participation in digital assets. With Ethereum-backed loans through BankProv, our clients gain new opportunities to put their investments to work,” said Nathan McCauley, CEO of Anchorage. “We selected BankProv for its long commitment to connecting enterprise tech with its commercial bank.”

Learn more about our Cryptocurrency Banking opportunities by clicking here.

 

 

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