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BankProv Announces Payments Network for Its Crypto Investing Customers

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by Sanaa Sharma · 2 min read
BankProv Announces Payments Network for Its Crypto Investing Customers
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ProvXchange, a payments platform by BankProv, will allow its two clients to pay each other instantly. The company is known for its state-of-the-art APIs (application programming interfaces) for all customers.

BankProv, legally known as The Provident Bank, has launched a series of Industry-leading APIs for real-time transfers. The commercial bank BankProv known for its modern and technology-friendly solutions to its clients has designed a payments network targeted towards its crypto investing customers.

BankProv’s leading competitors Silvergate and Signature already furnish their customers with the client to client, real-time payments that can be accessed on nights and weekends.

BankProv inaugurated ProvXchange on Thursday, calling it a payments platform to enable its users to carry out crypto transactions instantly. BankProv’s modern APIs authorize the bank to provide the finest experience to its expanding list of customers who are willing to make use of the most recent technology offerings in the market. The Bank’s API furnishes its clients with precise details on their accounts that manage transactions, optimizing the bank’s prolificacy.

The launch derives inspiration from the Ethereum-backed lending product that BankProv introduced with Anchorage in June. As the Bank focuses on getting hold of the digital asset market, customized solutions for all business types in the crypto space have been its top-most priority.

The Provident Bank is a subsidiary of Provident Bancorp, Inc. The company claims to be a future-ready commercial bank for businesses, that holds expertise in providing flexible and technology-first banking solutions to various types of markets. The company is known for its state-of-the-art APIs(application programming interfaces) for all customers and BaaS(Bank as a Service) partners.

One of the oldest banks in the United States, BankProv has been catering to its indigenous communities for about 200 years. In 2020, it underwent rebranding to “BankProv ” from The Provident Bank. The refurbished look was said to mirror the Bank’s dedication to provide a superior banking experience in general. As the Bank witnessed noteworthy market hysteria when participating in niche markets in 2019, the company decided to refocus its brand. The newly launched ‘BankProv’ was curated to exhibit the Bank’s entrepreneurial spirit and technological prowess for the vision of future banking.

In a recent press release, CEO Dave Mansfield said that BankProv has been continuously attending to its clients’ needs, and pushing for cutting-edge technology to furnish its users with the best possible solutions. According to Mansfield, the buildout of ProvXchange network will solve all the problems the community is facing and meet its clients’ unique needs.

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Sanaa Sharma
Author Sanaa Sharma

Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.

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