Silvergate Company Intelligence

June 7, 2022, 1:58PM EDT

• 26 min read

Quick Take

  • $2.5bn Market Capitalization as of June 2022 following their Nov-19 initial public offering 

  • La Jolla, California based commercial bank operating since 1988 with expansion into digital assets starting in 2013 

  • Operates the Silvergate Exchange Network (SEN), allowing clients to convert between stablecoins and fiat 24 / 7 / 365

  • SEN Leverage product provides SEN clients U.S. denominated loans collateralized by Bitcoin holdings

  • Provides digital asset clients with crypto custody with partnerships with Coinbase Custody and Fidelity Digital Assets

  • Dec-21 announcement of EJF Silvergate Ventures Fund, a joint investment vehicle with EJF Capital focused on early-stage investing

  • Recently acquired intellectual property (IP) and other technology assets from the Diem Group related to operating a blockchain payment networks

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