Anchorage Digital Adds Ethereum-Backed Loans for Institutional Clients
Diogo Mónica, Co-Founder and President
Anchorage Digital is proud to announce institutional Ethereum-backed loans through Anchorage Financing. Institutional clients at Anchorage now have access to a USD line of credit backed by Ethereum through our partnership with forward-thinking commercial bank BankProv. BankProv is the tenth oldest bank in America, operating for over 200 years as The Provident Bank before its modern rebrand in 2020.
Since the beginning, Anchorage has carefully anticipated institutional needs, solving first for secure custody and building a suite of institutional products including financing, brokerage, staking, and governance. Anchorage Financing’s loans help institutions, who are rightfully wary of posting collateral outside the security of Anchorage’s cutting-edge custody, obtain efficient access to capital without compromise.
“We’re pushing our full-service offering for the cryptocurrency community to the next level,” said Dave Mansfield, CEO of BankProv. “We firmly believe in our mission and belief that the crypto market should be afforded the same access and rights to traditional financing tools as any other legal, well-capitalized and compliant business in America. Anchorage’s collateral management tech is world class, making them a trusted partner in the banking industry.”
For crypto-native funds who have investments in Ethereum and a need for capital, Anchorage Financing brings a simple way to put their Ether to work while staying put, bringing them USD to meet their needs without liquidating their holdings.
At Anchorage, we believe the future of digital asset infrastructure will be forged by cutting edge technology and mutually beneficial partnerships. We’re pleased to partner with BankProv, whose long commitment to connecting enterprise tech and strong record for regulatory compliance aligns with our own.
If you’re interested in pledging Ether or want to learn more about other forms of collateral accepted by Anchorage Financing, please get in touch.
Holdings of cryptocurrencies and other digital assets are speculative and involve a substantial degree of risk, including the risk of complete loss. There can be no assurance that any cryptocurrency, token, coin, or other crypto asset will be viable, liquid, or solvent. No Anchorage communication is intended to imply that any digital asset services are low-risk or risk-free. Digital assets are held in custody by Anchorage Digital Bank National Association and are not guaranteed or FDIC-insured. All loans are made or arranged by Anchorage Lending CA, LLC pursuant to California Finance Lenders Law License №60DBO-119768. Any depictions of simulated or past loan performance are not necessarily indicative of future results.
