- BankProv Partners with Digital bank Anchorage
- Anchorage enables the investors to access USD.
- Anchorage offers custody, trading, and financing services.
BankProv, legally operating as The Provident Bank, is a part of Provident Bancorp, Inc, has announced its partnership with Anchorage Digital bank.
Furthermore, the partnership of BankProv and Anchorage, allows Anchorage to deliver quality loan products to their associational clients backed by Ethereum. For investors, Anchorage Financing will introduce an easy way of putting their holdings to work, which also enables the investors to access USD.
Even more, the CEO of BankProv said,
“We’re pushing our full-service offering for the cryptocurrency community to the next level”.
Also added, “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.
Accordingly, CEO of Anchorage, Nathan McCauley said, “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”.
Hence more, in a Series C funding round led by GIC, Anchorage raised $80 million. This funding helped the custodian to aid institutions by bringing crypto to their users and diversifying their corporate exchequer.
Anchorage
Moreover, the premier digital asset platform for institutions is Anchorage. Anchorage was founded in 2017. Anchorage was the first crypto firm to receive a charter from the U.S. National Bank regulator in January 2021. It has grown into a full-service financial platform and infrastructure provider for the digital belonging space. Even more, anchorage offers custody, trading, and financing services, also staking and governance.
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