Cross River, Sardine Team on Crypto Payments

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Financial services organization Cross River Bank has formed a partnership with compliance platform Sardine to ensure Sardine’s customers have a reliable way to access funds through Cross River’s infrastructure platform.

“As a crypto-first financial institution, supporting the crypto industry is not only core to Cross River’s mission, but it’s also our responsibility,” Cross River Head of Digital Assets Luca Cosentino said in a Monday (April 25) press release. “Sardine is working on one of the most important problems in the payments and crypto world and we are proud to serve them with our API-driven payments infrastructure, the base layer of the fastest-growing fintech and crypto companies.”

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 provide Instant ACH transfers based on its core technology, which uses AI to provide a real-time fraud score based on the user’s identity, device, and behavior patterns at the time of account origination and account funding,” the companies said. “It also continuously monitors for fraud during account login, deposits, and withdrawals. Customers simply integrate Sardine’s SDK into their web or mobile apps, and Sardine handles the rest.”

The two firms say the partnership brings added benefits to customers and businesses. With the help of Cross River’s payment rails and compliant financial services, clients will have a reliable way to immediately access funds.

See also: Cross River Expands Crypto Services Through Chainalysis

The partnership comes one month after Cross River announced it was expanding its cryptocurrency services in collaboration with the blockchain data platform Chainalysis.

The joint effort melds Chainalysis’ tech with Cross River’s infrastructure to help crypto companies build and scale with built-in regulatory expertise and compliance.

“Previously excluded from banking services, the digital asset industry has grown tremendously over the past year, presenting financial institutions with unique opportunities to bring in new clientele,” the announcement said. “Cross River was early to seize this opportunity and provides banking and payment solutions to exchanges, NFT marketplaces and wallet providers, allowing them to scale quickly and efficiently.”

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Read More: Cross River, Sardine Team on Crypto Payments

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