Silvergate Bank, also known as Silver Capital Corporation, is a Federal Reserve member commercial bank and financial technology company specializing in banking for digital currency exchanges, cryptocurrency activities, bitcoin miners, institutional investors, software developers, and financial technology companies. Silvergate is based in La Jolla, California. The bank was founded in 1988 by Derek Eisele and began its digital currency initiative in 2013. Silvergate stock went public with an IPO November 7, 2019, and is traded on the NYSE (ticker: SI).
Silvergate offers commercial lending and commercial banking services including business banking accounts, commercial real estate, mortgage warehouse, and cash management. Silvergate also offers a suite of digital financial infrastructure, payments, lending and funding solutions and services for companies and investors in the digital currency industry, to enable the growth of digital currency markets and digital commerce. Silvergate operates its real-time payments platform, known as the Silvergate Exchange Network, as well as SEN leverage, institutional custody services, and banking APIs to create an open banking platform.
Silvergate Capital: A Key Player in the Bitcoin Ecosystem