|Founded||1988, cryptocurrencies since 2013|
|Key People||Alan Lane, CEO; Derek Eisele, Vice Chairman of the Board; Antonio Martino, CFO; Kathleen Fraher, EVP and COO|
|Products||Commercial banking including cryptocurrencies|
Silvergate Bank is a fully owned subsidiary of Silvergate Capital Corporation, which after going public in November 2019 is traded on the New York Stock Exchange.
Founded in 1988, the bank is member of the Federal Reserve System. It provides commercial lending, commercial banking and Fintech banking. The bank launched what it calls its digital currency initiative in 2013.
The bank reported that, despite adding 48 new cryptocurrency clients during the fourth quarter of 2019, it experienced a 55% decline in earnings for the quarter.
In July 2020, Silvergate added ErisX to its Silvergate Exchange Network (SEN), allowing its trading and clearing members to make deposits and withdrawals in U.S. dollars from Silvergate accounts with no fees between 7:00 a.m. and 7 p.m. Central time.
- Silvergate Exchange Network. Silvergate.
- Crypto-friendly Silvergate Bank's Q4 net income fell 55% year-over-year but it beat street estimates. The Block Crypto.
- ErisX Taps Silvergate Network for No-Fee USD Transactions. Finance Magnates.
- Silvergate Exchange Network Expands to Include ErisX. ErisX blog.