Does Silvergate have a stablecoin?

In 2021, Silvergate initiated efforts to launch its own U.S. dollar-backed stablecoin, acquiring Meta 's Diem technology in January, 2022 for around $200 million to assist with this (Silvergate had previously intended to serve as a key issuer of the Diem currency for Meta). As of late 2022, the stablecoin had not yet launched.

When did Silvergate IPO?

The company began providing services for cryptocurrency users in 2016, and conducted an IPO in 2019. In November 2022, concerns were raised about Silvergate's health, after a fall in cryptocurrency prices and the bankruptcy of FTX. In March 2023, the bank announced plans to wind down and liquidate.

Who owns Silvergate Bank?

Silvergate Bank was founded as a savings and loan association. In 1996, it was re-capitalized and reorganized into a bank by Dennis Frank and Derek J. Eisele, but it initially remained a three-branch community bank in the San Diego region.

What is API banking?

API Banking can be defined as a set of protocols, routines, or tools that enables accessibility to a bank’s services to other financial infrastructures or third-party institutions. API helps to automate functions that a business would normally execute on a banking portal from within the internal ERP or product.