BankProv provides Banking-as-a-Service support for Etana Custody

By Joy Dumasia

BankProv, a future-ready commercial bank that offers adaptive and technology-first banking solutions to emerging industries, announced a new Banking-as-a-Service (BaaS) partnership with Etana Trust Company, an independent, qualified, global custodian for fiat and digital assets, to connect digital assets with the legacy financial systems.  

Through this partnership, Etana Custody will be bringing to market new digital asset services to the investment community, announced on the floor of Consensus 2022 by CoinDesk in Austin, Texas. 

BankProv has been supporting businesses in the digital asset space with deposit and lending products since 2019 and recently announced its embedded institutional banking services with the build of an API programming suite. This relationship will enable Etana Custody access to payment rails and virtual ledger services to facilitate and track payments under sub-accounts for Etana Custody customers.

“We’re excited to partner with a safe, secured and trusted partner in the market like Etana,” said Dave Mansfield, CEO of BankProv. “We share the same vision and practice of streamlining the needs of our customers and centralizing our banking solutions to effectively support the fiat and digital markets.”

Etana Custody offers a comprehensive technology platform that allows institutions, exchanges and individuals the tools to provide the highest level of oversight, security and fiduciary responsibilities to their clients in fiat and digital assets. The integrated platform allows clients to manage their assets from one location in a secure environment linked to many service provider options. 

“BankProv is an innovative bank that recognizes the need to provide support services in the expanding institutional marketplace for digital assets,” said Brandon Russell, CEO of Etana Custody. “Our partnership creates exciting new opportunities for progressive financial services firms.”

Recently, IBS Intelligence reported that BankProv, a subsidiary of Provident Bancorp, Inc., a future-ready commercial bank that offers adaptive and technology-first banking solutions to emerging industries, is partnering with Synctera, a leading FinTech banking provider helping innovators build their FinTechs more efficiently.