Cross River, Sardine Crypto Payments Team
Financial services organization Cross River Bank has formed a partnership with compliance platform Sardine to ensure Sardine customers have a reliable way to access funds through Cross River’s infrastructure platform.
“As a crypto-focused financial institution, supporting the crypto industry is not only core to Cross River’s mission, but also our responsibility,” said Luca Cosentino, Chief Asset Officer. Cross River Digital Media, in a Monday, April 25 press release. “Sardine is working on one of the most important problems in the world of payments and crypto and we are proud to serve them with our API-based payment infrastructure, the foundation layer for fintech and crypto companies. fastest growing.”
Sardine offers fraud prevention and compliance infrastructure for digital wallets and neobanks through a platform developed by veterans of Coinbase, Revolut, Google Pay, Bolt and PayPal.
“Sardine is uniquely suited to deliver instant ACH transfers based on its core technology, which uses AI to deliver a real-time fraud score based on user identity, device and behaviors to the time of account creation and account funding,” the companies said. “It also continuously monitors fraud during account login, deposits and withdrawals. Customers simply integrate Sardine’s SDK into their web or mobile applications, and Sardine takes care of the rest.
Both companies say the partnership brings additional benefits to customers and businesses. With the help of Cross River’s payment rails and compliant financial services, customers will have a reliable way to access funds immediately.
See also: Cross River expands crypto services with Chainalysis
The partnership comes a month after Cross River announced it was expanding its cryptocurrency services in conjunction with blockchain data platform Chainalysis.
The joint effort merges Chainalysis’ technology with Cross River’s infrastructure to help crypto businesses grow and scale with built-in regulatory expertise and compliance.
“Previously excluded from banking, the digital asset industry has grown significantly over the past year, providing financial institutions with unique opportunities to attract new customer base,” the statement said. “Cross River was the first to seize this opportunity and provides banking and payment solutions to exchanges, NFT marketplaces and wallet providers, enabling them to scale quickly and efficiently.”