BankProv Partners with Rocketplace to Support Crypto Trading Platform with Traditional Banking Payment Rails
BankProv, a future-ready commercial bank that offers adaptive and technology-first banking solutions to emerging industries, has partnered with Rocketplace, a California-based cryptocurrency exchange, to provide Banking-as-a-Service infrastructure and crypto-friendly banking solutions for its latest digital asset platform.
Through this partnership, Rocketplace will utilize BankProv’s innovative Banking as a Service (BaaS) offering to support its need for access to core banking services, including white-labeled deposit products and payment rails.
BankProv will power On and Off-Ramps to bridge the gateway from fiat (USD)-crypto, allowing Rocketplace users to quickly deposit, trade, and withdraw funds. Together, they are combining the benefits of Rocketplace’s 24/7, the commission-free cryptocurrency exchange with traditional banking features to deliver a seamless investment management experience.
Rocketplace will integrate BankProv’s deposit and payment services directly into its digital asset trading platform and utilize Modern Treasury, a payment operations platform driving faster, more efficient payments and reconciliation
“Digitally native consumers are demonstrating a clear preference for services that offer speed and trust,” said Louis Beryl, CEO at Rocketplace. “By partnering with BankProv, Rocketplace is equipped to meet this consumer demand through instant deposits and fast, commission-free trading of their favorite cryptocurrencies.”
Dave Mansfield, CEO of BankProv said:
“Rocketplace’s commission-free trading will change the game for digital asset platforms.” “This partnership is one of the first in the industry to support a crypto-related business with banking as a service solution – further solidifying our mission to provide much-needed banking services to the industry.”
About Rocketplace
Based in Palo Alto, Rocketplace is a cryptocurrency platform serving retail investors in the United States. Rocketplace offers simple trading tools, commission-free buying and selling, free industry research, same-day trading for new users, and a customer service team comprised of people, not chatbots. Rocketplace is backed by investors including Accomplice VC, Better Tomorrow Ventures, Quiet Capital, Combine VC, Goat Capital, and Capital B.
About BankProv
BankProv, legally operating as The Provident Bank, is a subsidiary of Provident Bancorp, Inc. 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.
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