Payments

BankProv expands lending team for cryptocurrency

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September 23, 2021

BankProv, a commercial bank and subsidiary of Provident Bankcorp Inc. is expanding its specialty lending team with Ryan Fox who will serve as assistant vice president of specialty vending. Fox will help deliver the bank's services to the cryptocurrency and digital assets community, according to a press release.

BankProv offers a variety of services including a line of credit backed by Ethere. Fox will offer crypto-backed lending options to digital asset companies, so investors can still hold dollars without liquidating holdings, according to the release.

"I'm excited to work in the innovative cryptocurrency space and to be on the forefront of the bank's newest ventures, in addition to utilizing my background as a former business owner to work with entrepreneurs on their acquisitions," Fox said in the release.

Prior to joining BankProv, Fox served as a partner for Dolly Road Partners.