BankProv Provides Banking-as-a-Service Support for Etana Custody

Etana Custody Brings New Digital Asset Services to Market at Consensus 2022

AMESBURY, Mass., June 10, 2022 /PRNewswire/ -- BankProv (NASDAQ: PVBC), a future-ready commercial bank that offers adaptive and technology-first banking solutions to emerging industries, announced today a new Banking-as-a-Service (BaaS) partnership with Etana Trust Company (dba Etana Custody), 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 today 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."

About Etana Custody
Etana Trust Company (dba Etana Custody) is a Colorado chartered trust company regulated by the State of Colorado Division of Banking. Etana offers global custody and trade support solutions for institutions, corporations, exchanges, and individuals as an independent, qualified custodian. 

Etana's industry-leading custody and trade support solutions allow clients to manage their fiat and digital assets from one location in a secure environment linked to many service provider options. Visit etana.com 

About BankProv
BankProv, legally operating as The Provident Bank, is a subsidiary of Provident Bancorp, Inc. (NASDAQ: PVBC). BankProv is a future-ready commercial bank for corporate clients, specializing in offering adaptive and technology-first banking solutions to niche markets, including cryptocurrency, renewable energy, fin-tech and enterprise value lending with a focus on search fund loans. We are committed to offering state-of-the-art APIs (application programming interfaces) for all business clients and BaaS (Bank as a Service) partners. Through our offerings, BankProv insures 100% of deposits through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). For more information, visit bankprov.com.

Press Contact: Rachelle Petersen
Phone: 603-334-1255  
Email: [email protected]

SOURCE BankProv