BankProv expanded its specialty lending team to include Ryan Fox, assistant vice president of specialty lending, as the bank pushes its full-service offering for the cryptocurrency community to the next level.
BankProv, the first bank in the industry to extend a line of credit backed by Ether, has doubled down on its focus to address the digital assets’ market need for accessible U.S. dollar for crypto-heavy borrowers. In his new role, Fox will offer crypto-backed lending options to digital asset companies, allowing their investors to meet their U.S. dollar needs without liquidating their holdings. Fox will also specialize in providing equipment and infrastructure loans to scale crypto mining operations, as well as procuring senior debt capital to individuals and funds through the search fund lending model.
“I’m excited to work in the innovative cryptocurrency space and to be on the forefront of the bank’s newest ventures, in addition to utilizing my background as a former business owner to work with entrepreneurs on their acquisitions,” Fox said.
Fox joined BankProv in November 2020, having spent most of his career at William Fox & Co., a family-owned business in Washington, D.C. His experience owning and managing a small business for more than a decade gives him the first-hand insight, knowledge and understanding of the challenges that face business owners daily.
“Since joining the lending team at BankProv, Ryan has demonstrated a unique ability to apply his real-world experience to create flexible and unique deal structures for our specialty clients, which will prove invaluable as we continue to partner with the top companies in this space,” Joe Kenney, EVP, director of commercial lending at BankProv, said.
