Digital Banking
BankProv partners with CrossTower to offer bitcoin mining financing
December 23, 2021
BankProv, a commercial bank, has partnered with CrossTower, a trading platform and digital asset investment firm, to offer equipment financing for bitcoin miners. The company will offer loans through its specialty lending team with support from CrossTower's collateral management technology and underwriting standards, according to a press release.
With this partnership, the companies hope to help miners invest in the best mining equipment, while repaying the loan from the mined cryptocurrency.
"BankProv is proud to expand its relationship with CrossTower to include this new and exciting specialty lending initiative," Dave Mansfield, CEO of BankProv, said in the release. "By partnering with an innovative, longstanding and trusted partner like CrossTower, we're able to execute on our mission to provide much-needed banking services to an underserved market and increase the widespread adoption of this asset class."
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