What is Silvergate TM banking?

The Silvergate ™ banking platform is as innovative as the entrepreneurs we serve. The Silvergate ™ banking platform is as innovative as the entrepreneurs we serve. Silvergate Bank is the leading bank for innovative businesses in fintech and cryptocurrency. Based in San Diego, Silvergate has served innovators for 25+ years.

What services does Silvergate offer?

One service that Silvergate operates is the Silvergate Exchange Network, an instant payment platform that enables Silvergate clients to send U.S. dollars to any Silvergate account, even when traditional banks are closed on nights and weekends.

What is the Silvergate exchange network?

So Silvergate created the Silvergate Exchange Network, or SEN, to enable these clients to trade Bitcoin and other forms of crypto 24/7. The way it works, institutions that want to trade crypto open an account at the bank.

What happened to Silvergate?

When other crypto exchanges that were depositors at Silvergate started pulling their money out of the bank in the wake of the failure, Silvergate also sought to shore up its liquidity by tapping the Federal Home Loan Bank of San Francisco for $4.3 billion in the fourth quarter.