Coinbase Gave Silicon Valley Bank Stock Warrants for Access to USD Payments
The warrant, revealed in Coinbase's new prospectus, dates back to 2014, when banking was even harder for crypto firms to come by than today.
Cardano (ADA), uniswap (UNI) and filecoin (FIL) were among those added.
A memo obtained by CoinDesk lays out the bank’s approach to providing clients with access to bitcoin and other digital assets.
An HSBC representative said the bank has “limited appetite to facilitate products or securities that derive their value from virtual currencies.”
The custodian began offering cash loans collateralized by bitcoin last December but is now adding Silvergate customers to the mix.
The digital bank will put the extra cash toward meeting Wyoming regulators’ pre-launch capital requirements.