Silvergate Bank: How Deep Is the Moat?

Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system. The payment totaled $182 million. The technology and assets acquired will reportedly be used for the launch of a Silvergate branded stablecoin. Silvergate Purchases Diem Operations Silvergate Capital, a payments services company, has acquired Diem, a stablecoin payments system originally put in motion by Facebook (now Meta), to integrate it into its operations. The announcement was made on....

Silvergate Bank, a major financial institution partnered with crypto exchanges ranging from Kraken to Coinbase, recently cut ties with Binance.  Earlier this Wednesday, Binance sent an email to its users stating that the platform would no longer support deposits and withdrawals via Silvergate Bank over SWIFT starting this Friday. As of now, Binance’s USD bank wire […]

Silvergate Bank added $586 million in new deposits from firms and individuals in the cryptocurrency industry in the third quarter of 2020.

Silvergate is a major crypto bank known for assisting the launch of El Salvador’s crypto wallet Chivo. Major cryptocurrency exchange Crypto.com continues expanding its crypto on-ramp and off-ramp solutions with a new partnership with the California state-chartered bank Silvergate.Crypto.com announced on Nov. 30 that it is working with Silvergate to allow institutional clients to deposit and withdraw from the exchange using the U.S. dollar (USD).According to the announcement, bank transfers to and from the Crypto.com exchange are now available for institutional investors. With the help of....

Binance.US has joined the Silvergate Exchange Network (SEN), a 24/7 instant settlement network operated by Silvergate Bank.