What Cross River Bank does

Cross River Bank is an FDIC-insured, privately held New Jersey state-chartered commercial bank that provides API-based banking infrastructure to more than 100 technology partners, including Stripe, Coinbase, Upgrade, Plaid, Visa, Mastercard, X Money, and MetaMask. The bank operates a hybrid model combining embedded finance and banking-as-a-service (the B2B platform business) with traditional community banking services through branches in Teaneck, NJ and Wilmington, DE. Its proprietary Cross River Operating System (COS) is an API-driven bank core that unifies accounts, payments, lending, card issuing/processing, and onchain finance on a single integration, supporting ACH, Same-Day ACH, wires, RTP ($1M transaction limit), FedNow, USDC settlement over Solana via a Visa pilot, and Mastercard's regulated stablecoin settlement program across multiple blockchains.

The company's revenue streams span embedded finance platform fees (transaction/volume-based pricing for fintech partners), marketplace lending origination and securitization ($288.5M CMBS securitization in December 2025; $120M Prosper ABS in October 2025), principal finance and credit facilities ($250M for Figure, $250M for Upgrade, $150M for EarnIn, $100M for MidOcean/Point), card issuing and processing fees (debit, credit, prepaid programs including MetaMask Card, X Money Visa card, Trovy HELOC card, Uphold debit), retail and commercial deposit income (savings up to 3.40% APY; CDs up to 3.75% APY), commercial real estate and SBA lending, and CRB Securities investment banking advisory. Cross River monetizes through eight solution bundles targeting fintech/neobanks, crypto companies, social platforms, gaming operators, merchant platforms, digital lenders, merchant acquirers, and institutional credit investors, distributing products via direct enterprise sales, API self-serve onboarding, channel partners (Thredd), embedded card sponsorship (OEM/white-label), and physical branches.

Recent strategic activity includes the November 2025 launch of stablecoin payments infrastructure, the December 2025 launch of an in-house card processing engine validated by Mastercard and Visa, a June 2026 partnership with Mastercard for regulated stablecoin settlement across eight blockchains, a June 2026 $250M forward-flow agreement with Figure Technology Solutions for crypto-backed loans, a March 2026 $50M equity raise advised by T. Rowe Price Investment Management at over $3B valuation, and a February 2026 full-service branch opening in Wilmington, Delaware. Cross River has engineering subsidiaries in Madrid and Israel and operates the Digital Ventures early-stage fintech investment portfolio (Alviere, Finix, Ocrolus, Sardine, Stablecore, and others), while prior acquisitions of PeerIQ (2021) and Betterfin (2021) expanded its data analytics and SMB lending SaaS capabilities. The company has been referenced in a Senator Warren letter regarding past FDIC enforcement action and in third-party risk management compliance guidance, representing a notable regulatory overhang.

Name

Cross River Bank

Legal name

Cross River Bank

Website

https://crossriver.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Cross River Bank is an FDIC-insured, API-first bank providing embedded finance infrastructure (accounts, payments, cards, lending, stablecoin settlement) to 100+ technology partners including Stripe, Coinbase, Visa, Mastercard, X Money, and MetaMask, plus traditional retail and commercial banking through branches in NJ and DE.

Ownership category

akta.pro rank

Product category

Banking-as-a-Service

NAICS

Depository Credit Intermediation (5221)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK)

akta.pro secondary industry

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

Keywords

• Banking-as-a-service
• Embedded finance
• API banking infrastructure
• Card issuing
• Marketplace lending

Headquarters

HQ city

Fort Lee

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Embedded Finance / Banking-as-a-Service Platform Fees: Core revenue stream from providing API-based banking infrastructure (accounts, payments, cards, lending) to more than 100 technology partners including Stripe, Coinbase, Plaid, and Visa. Recurring revenue driven by partner transaction volume.
2. Marketplace Lending Origination & Securitization: Revenue from originating, underwriting, and facilitating consumer and SMB loan programs through partner platforms, plus securitization via CMBS ($288M CRE securitization in 2025) and ABS ($120M 100% prefunded ABS transaction with Prosper).
3. Principal Finance / Loan Purchase & Credit Facilities: Asset-based financing income from credit and seasoning facilities, loan retention and purchase arrangements (e.g., $250M facility with Upgrade, $250M for Figure crypto-backed loans, $150M for EarnIn, $100M for MidOcean/Point HEI).
4. Card Issuing & Processing Fees: Revenue from card issuing programs (debit, credit, prepaid) and the proprietary in-house processing engine, including interchange, issuer fees, and processor-agnostic issuing for partners like MetaMask Card (Mastercard), Trovy Card, X Money Visa card, and OwlPay Cash.
5. Personal & Business Banking (Retail Deposits): Interest and fee income from consumer and business deposit accounts (checking, savings, money market, CDs) held at Cross River branches in Teaneck, NJ and Wilmington, DE, plus online high-yield CDs.
6. Commercial Real Estate Lending & Loan Sales: Income from CRE loan origination and servicing, including healthcare finance, construction lending, and lender finance (warehouse facilities for private lenders), supported by $288M CMBS securitization.
7. Investment Banking & Capital Markets Advisory (CRB Securities): Fees from investment banking and structured product advisory services for the fintech ecosystem, including private placements, M&A, ABS issuance, and loan sale advisory.
8. SaaS / Sponsor Bank Program Revenue: Revenue from acting as issuing/sponsor bank for fintech card programs (Trovy HELOC card issued by Cross River, MetaMask Card, X Money, Uphold debit card, Betterfin SBA platform integration) and from acquiring/merchant services.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels7 records

Core offering

Cross River Bank provides API-based banking-as-a-service infrastructure to fintech and technology partners, enabling them to offer FDIC-insured accounts, payments (ACH, RTP, FedNow, wires, stablecoins), card issuing and processing, lending, and onchain finance through a single integration with its proprietary COS banking core. The bank also operates direct consumer and small business banking branches and supports sponsor-bank-as-a-service for embedded card and crypto programs.

Product overview

Cross River Bank delivers a unified embedded finance platform built around COS (Cross River Operating System), its proprietary API-driven bank core. The platform combines Onchain Finance capabilities (Stablecoin Payments, CRNow, On/Off Ramp, Stablecoin-Enabled Accounts), Payments (Instant Rails via RTP® and FedNow®, International Payments, Card Payments, Traditional Rails including ACH and wires), Card & Accounts (Card Issuing, Card Processing, Merchant Services, FDIC-insured Accounts), a Marketplace Lending Platform (Origination & Underwriting, Selling & Reconciliation, Regulatory Compliance, Consumer & SMB Credit), Capital Solutions (Principal Financing, CRB Securities), and direct Banking services (Commercial Real Estate Lending, Construction Lending, Lender Finance, Healthcare Finance, Small Business Lending, Personal Banking, Business Banking, Mortgage Servicing, High-Yield CD). Through purpose-built solutions for Crypto, Social Platforms, Merchant Platforms, Gaming, Merchant Acquirers, Neobanks, Digital Lenders, and Institutional Credit Investors, the platform enables fintechs and technology partners to embed financial services through a single integration, supported by Cross River's investment arm Digital Ventures.

Differentiator

Problem solved

Functional benefit

Brands

• CRB Securities: A Cross River company providing investment banking and structured product advisory for the fintech ecosystem, including private placements, M&A, ABS issuance, and loan sale advisory.
• Cross River Digital Ventures
• COS (Cross River Operating System)
• CRNow

Products and services

• COS (Cross River Operating System) Proprietary API-driven bank core platform enabling fintech and technology partners to access banking, payments, lending, cards, and onchain finance services through a single integration with multi-rail money movement.
• Stablecoin Payments Move money with stablecoins interoperable across fiat rails, combining fiat rails, stablecoin payments, and crypto-native products within the COS platform.
• CRNow Always-on settlement service via Cross River's Partner Network, enabling continuous settlement independent of traditional banking hours.
• Instant Rails (RTP and FedNow) Real-time payouts via RTP and FedNow plus pay-ins via RTP with a $1 million transaction limit, available 24/7/365 including Request for Payment (RfP) functionality.
• Card Payments Accept, process, and access card payments with global card networks including push-to-card and card-based payments through Visa, Mastercard, and regional networks.
• Card Issuing Launch debit, credit, or prepaid card programs on a flexible, processor-agnostic issuing platform with BIN sponsorship and proprietary processing engine.
• Card Processing Direct integration to card networks for card management and processing through Cross River's proprietary Core (COS) with real-time fraud monitoring, customizable rules, and transaction management.
• Marketplace Lending Platform End-to-end digital lending platform spanning origination and underwriting, selling and reconciliation, regulatory compliance, and consumer and SMB credit offerings with bank-supervised origination and 100% loan-level underwriting.
• Principal Financing Asset-based financing from Cross River's Principal Finance Group, including credit and seasoning facilities, loan retention and purchases, and forward-flow agreements for fintech partners.
• CRB Securities A Cross River company providing investment banking and structured product advisory for the fintech ecosystem, including private placements, M&A, ABS issuance, and loan sale advisory.
• Personal Banking Direct consumer banking services including Personal Checking, I Connect/E Connect Savings, Tiered Savings, and Certificates of Deposit (Branch CDs) offered through Cross River's Teaneck, NJ branch.
• Business Banking Business banking services including Prestige Money Market Checking, NJ IOLTA Checking, Attorney Trust Escrow, Prestige Business Tiered Savings, and business CDs.
• Commercial Real Estate Lending Commercial real estate loan origination and servicing secured by investment properties, including healthcare finance and the company's $288M CMBS securitization program.
• Small Business Lending Full suite of SBA and conventional business loan programs, including Cross River's role as one of the top PPP lenders reaching more than 375,000 businesses during the pandemic.
• Lender Finance Warehouse facilities for private lenders, providing capital to support private credit and lending operations.
• Healthcare Finance Term and bridge loans secured by all types of healthcare properties.
• Construction Lending Construction and bridge loans for ground-up construction, renovation, acquisition, and related purposes.
• International Payments Global money movement for businesses, supporting cross-border payments alongside networks such as RTP, FedNow, and SWIFT.
• Traditional Rails (ACH, Same-Day ACH, Wire) ACH, Same-Day ACH, and wire transfers for moving money conveniently and securely at scale through a single API.
• Digital Ventures Cross River's investment arm supporting early-stage companies at the intersection of financial services and technology, with portfolio companies including Alviere, Finix, Ocrolus, Sardine, Stablecore, and Verify.

Quantifiable outcome

• $32Bn+ consumer loans facilitated since 2019
• +5 more outcomes

Named customers24 records

Segments10 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature8 records

Partnerships

29 partnerships are on record, tiered flagship, minor and core.

• Visa Direct (X Money P2P)flagshipStrategic or Co-development Partner · 17 June 2026Visa Direct powers P2P payments for X Money with FDIC-insured deposits provided by Cross River Bank; 6% APY deposits through Cross River. Partnership enables the X Money platform to compete against Venmo, Zelle, and traditional banks.
• Figure Technology SolutionsflagshipStrategic or Co-development Partner · 4 June 2026Cross River Bank's Principal Finance Group committed up to $250M in a forward-flow agreement to purchase crypto-backed loans originated through Figure's platform. Enables USD liquidity for borrowers using crypto as collateral; Figure has 380+ partners and has originated more than $25B in home equity products.
• MastercardflagshipStrategic or Co-development Partner · 3 June 2026Mastercard expanded settlement to include regulated stablecoins (USDC, PYUSD, USDG, USDP, RLUSD, SoFiUSD) across multiple blockchains including Arbitrum, Base, Canton, Ethereum, Polygon, Solana, Tempo, and XRPL. Cross River is among the first US banking partners (alongside ARQ, CBW Bank, Lead Bank, Nuvei) to support stablecoin settlement in US and Latin America.
• Circle Internet Group (USDC)flagshipTechnology or Integration · 3 June 2026Circle's USDC stablecoin underpins Cross River's stablecoin payment infrastructure and Visa pilot with Highnote. Mastercard and Visa settlement networks include USDC, PYUSD, USDG, USDP, RLUSD, and SoFiUSD across multiple blockchains.
• Wells Fargo, BNY, U.S. Bank, Santander, Form3, IBMminorGTM or Marketing Partner · 2 May 2026Cross River Bank executive participated alongside Wells Fargo, BNY, U.S. Bank, Santander, Form3, and IBM at Nacha Smarter Faster Payments 2026 panels and networking events on FedNow and instant payment rails.
• Lightspark (Grid Global Accounts)coreOEM/ Whitelabel/ Licensing Partner · 28 April 2026Lightspark's Grid Global Accounts enterprise banking product uses FDIC-insured banks including Cross River Bank, Erebor, and Lead Bank for branded dollar accounts, stablecoin conversion, Visa debit cards, and instant FX services across 65+ countries.
• ThreddflagshipStrategic or Co-development Partner · 11 March 2026Thredd, an AI-powered issuer processing platform, announced a strategic alliance with Cross River to accelerate international fintechs' entry into the US market. First live client: B4B Payments (UK fintech) scaling its US card issuing and embedded payments program.
• B4B PaymentsminorOthers · 11 March 2026First live client under the Thredd-Cross River strategic alliance; UK-based fintech (card issuing, embedded payments, business expense management) expanding its US program to provide access point for European clients.
• X (formerly Twitter) / X MoneyflagshipStrategic or Co-development Partner · 10 March 2026Cross River Bank is the FDIC-insured banking partner for X Money, providing FDIC-insured deposits up to $250,000, 6% APY savings, metal Visa debit card with 1% cashback, P2P payments via Visa Direct, and state money transmitter licensing across 41+ states and DC.
• MetaMask (Consensys)flagshipOEM/ Whitelabel/ Licensing Partner · 26 February 2026Cross River Bank issues the Mastercard-powered MetaMask Card across 49 US states with self-custody rewards (1% cashback standard, 3% with Metal Card tier) in mUSD stablecoin.
• Mastercard & MonavatecoreStrategic or Co-development Partner · 26 February 2026Mastercard-powered MetaMask Card (issued by Cross River) uses Monavate as the infrastructure/fintech partner enabling self-custody crypto-to-fiat conversion at point of sale across 49 US states.
• Highnote (Stablecoin Settlement)flagshipStrategic or Co-development Partner · 19 February 2026Cross River and Highnote launched stablecoin settlement capability as part of Visa's stablecoin settlement pilot — USDC settlement over the Solana blockchain in production for enterprise payment flows.
• LightsparkcoreStrategic or Co-development Partner · 18 February 2026Lightspark and Cross River Bank announced a partnership enabling 24/7 real-time fiat settlement through the Bitcoin Network and faster payment rails (RTP and FedNow), eliminating traditional processing windows for B2B, cross-border, and retail payment use cases.
• VisaflagshipStrategic or Co-development Partner · 16 December 2025Cross River and Highnote are participating in Visa's stablecoin settlement pilot, introducing USDC settlement over the Solana blockchain into production for enterprise payment flows. Enables near-instant funds movement and seven-day settlement availability for U.S. issuer and acquirer partners.
• Aion Financial TechnologiescoreTechnology or Integration · 10 December 2025Aion Financial Technologies selected as Cross River's pilot partner to support its new in-house card processing engine for payments and debit card programs.
• OwlTing / OBOOK HoldingscoreStrategic or Co-development Partner · 9 December 2025Cross River Bank powers US settlement services for OwlTing's OwlPay Cash Visa-powered remittance app, targeting the $230B US outbound remittance market across 26 countries via Visa Direct.
• FundboxcoreTechnology or Integration · 1 December 2025Cross River Bank partnership supporting Fundbox's data-driven digital underwriting for small businesses underserved by traditional banks; Fundbox is a Plano, Texas small-business lender.
• Easterseals New JerseyminorOthers · 7 November 2025Cross River Bank partnered with Easterseals NJ to provide $18,000 in gift cards and food packages supporting over 4,000 program participants and others affected by SNAP benefit delays during federal government shutdown.
• UpholdcoreOEM/ Whitelabel/ Licensing Partner · 30 October 2025Cross River Bank issues the Uphold debit card under Visa, offering up to 6% XRP back on all purchases with fiat, stablecoins, or crypto held on the platform. Two tiers: Elite and Essential.
• TransakcoreTechnology or Integration · 24 October 2025Cross River Bank partnered with Transak to enhance fiat-to-crypto and crypto-to-fiat transactions through integrated payment solutions, improving transaction speed, reliability, and compliance for crypto onboarding and cross-border payments.
• Prosper MarketplaceflagshipStrategic or Co-development Partner · 16 October 2025Prosper Marketplace, CRB Securities, and Cross River Bank closed Prosper's inaugural 100% prefunded $120M asset-backed securities transaction backed by unsecured personal loans. Cross River served as co-sponsor and facilitator.
• Sightline PaymentsflagshipStrategic or Co-development Partner · 27 August 2025Cross River partnered with Sightline Payments to develop Sightline Debit, the first integrated payments ecosystem for the U.S. gaming industry. Combines a demand deposit account with a Visa debit card; expected savings of up to $3.5B over five years for digital gaming via projected 40% reduction in churn.
• PlaidcoreTechnology or Integration · 9 June 2025Cross River added Request for Payment (RfP) on The Clearing House's RTP network; Plaid was the first client to enable the function for real-time pay-in, benefiting Carvana customers with instant confirmation, settlement, and bank authentication via Plaid Link.
• EDGE MarketscoreOEM/ Whitelabel/ Licensing Partner · 8 June 2025EDGE Markets' VISA debit card program EDGE Boost (processed over $2B in transactions) issued through banking partnership; supports EDGE Pro (real-time deposits for CFTC market makers) and EDGE Connect payment rail.
• TrovycoreOEM/ Whitelabel/ Licensing Partner · 1 June 2025Cross River Bank issues the Trovy home equity-backed credit card linked to a HELOC, launched June 2025, live in 27 states and licensed in 30. Upcoming 1Loan HELOC product also powered by Cross River.
• BetterfincoreTechnology or Integration · 2 November 2021Cross River acquired Betterfin (a SaaS provider of lending-as-a-service solutions for SMBs and financial institutions) to strengthen technology capabilities and digitize SBA loan processes. Previously collaborated on SBA Paycheck Protection Program.
• StripeflagshipStrategic or Co-development PartnerCross River provides infrastructure services for Stripe's banking and payment operations. Stripe is also a customer of Cross River's banking-as-a-service platform.
• CoinbaseflagshipStrategic or Co-development PartnerCross River provides banking infrastructure services for Coinbase; one of the highest-profile fintech relationships powering crypto exchange operations.
• CRB Group, Inc.flagshipStrategic or Co-development PartnerCross River Group, Inc. is the parent entity of Cross River Bank; CRB Group, Inc. raised $620M in 2022 funding led by Eldridge and Andreessen Horowitz to support growth across embedded payments, cards, lending, and crypto solutions, plus international expansion.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Lead Bank: Community-chartered sponsor bank offering banking-as-a-service APIs across accounts, cards, lending, and payments. Directly competes with Cross River for fintech partner relationships and stablecoin/card programs.
• Synapse: BaaS infrastructure platform connecting fintechs to partner banks for accounts, cards, and payments. Competes directly with Cross River's API-first banking core despite a different operating-model structure.
• Unit: Embedded finance platform providing accounts, cards, payments, and lending infrastructure to fintechs via API. Closely comparable to Cross River's COS offering in target market and product scope.
• Treasury Prime: API-based banking infrastructure connecting fintechs to a network of sponsor banks for accounts, payments, cards, and lending. Directly comparable to Cross River's BaaS and embedded finance capabilities.
• BankProv: Sponsor bank with a strong focus on crypto-native fintechs, providing accounts, lending, and treasury services. Comparable to Cross River's crypto solutions and principal financing capabilities.
• Piermont Bank: BaaS-focused sponsor bank serving fintechs with accounts, payments, and lending infrastructure. Cited alongside Cross River in third-party risk management enforcement cases, indicating similar regulatory exposure.
• Customers Bank: Mid-sized commercial bank with a substantial BaaS and embedded banking franchise serving fintechs and digital platforms. Directly competes with Cross River for sponsor-bank mandates.
• Choice Financial Group: Community bank operating embedded finance and sponsor-bank programs for fintech partners. Comparable to Cross River in BaaS product breadth and community-bank charter model.

Broad incumbents

• Stripe (Stripe Treasury / Financial Connections): Global payments incumbent and Cross River partner that also offers embedded banking via Stripe Treasury. Represents both a customer/partner and a strategic incumbent with overlapping capabilities in embedded finance.
• JPMorgan Chase (Onyx / embedded finance): Largest US bank with broad embedded finance, payments, and blockchain initiatives (JPM Coin, Onyx). Operates as a broader incumbent in the same space Cross River addresses for fintech infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/crossriverbank
• GitHubgithub.com/crossriver
• YouTubeyoutube.com/@crossriverbank
• Facebookfacebook.com/crossriversocial
• LinkedInlinkedin.com/company/cross-river-bank
• Instagraminstagram.com/crossriverbank

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries5 records

Funding overview

Funding rounds8 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments23 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cross River Bank