Saved on AP per week
Cash back on card spend
Opening doors for open-source
Gitcoin got its start through the ConsenSys Mesh incubator back in 2017. After a few years, it was time to leave the nest and stand on their own as an organization.
A key part of that process was finding a banking service that would work with companies in the Blockchain space and support them as they scaled.
Gitcoin COO Kyle Weiss recalls how, at first, they partnered with a traditional bank that couldn’t keep pace with their vision.
That’s when ConsenSys suggested they look into Rho. Gitcoin soon found that Rho’s operating speed was night and day compared to the competition—and a perfect match for their ambitions.
For Weiss, Rho’s competence was apparent right off the bat.
“The onboarding and approval process was much smoother with Rho,” and to Gitcoin’s delight, that translated into a more efficient banking experience across the board—freeing up their team to focus on customers and building the best possible product.
It’s not just about the speed, but how Rho’s user-friendly products instill a sense of confidence among the Gitcoin team.
Weiss especially appreciates how many independent tools work together on Rho’s platform.
But Rho’s collaborative approach extends beyond the product line. Its streamlined banking model and flexible permissions mean companies can also safely tackle their finances as a team.
“Our goal is to empower our team to make the purchases they need,” said Weiss. “With Rho, they’re not filling out applications, chasing down approvals, and waiting for a physical card to arrive. We can issue as many cards as we want, and they’re instantly accessible.”
Of course, speed and accessibility don’t have to come at the cost of security.
“Rho has terrific safeguards in place,” said Weiss. “If our accounting manager tries to move millions from our Treasury account into our checking account, for instance, I’ll need to approve it.”
For added comfort, Rho Treasury Management clients are also eligible for up to $75 million in FDIC insurance.
And if any questions ever arise about a product or service, Weiss knows he can count on Rho’s expert customer team to help him through.
As Gitcoin expands, they’re allowing their community to drive and direct many of their next moves. With an open road ahead, they’re happy to have a solid, committed partner in Rho.
Moving forward, Weiss is eager to see what the future of their relationship brings.
“The next step is learning how banking can complement what’s happening now in the blockchain space. We’re excited to grow with Rho and to follow the spirit of where this world is heading.”
Rho is open to businesses with an initial deposit above $50,000 or corporate card spending commitment in excess of $5,000 a month. Although we don’t charge a fee for using banking, some services carry additional fees. Terms & conditions apply.