Crypto Exchange CEX.io Boosts US Push With Silvergate’s Payment Network
U.K.-based crypto exchange CEX.io says it's joined the Silvergate Exchange Network, the payment rail of the go-to bank for crypto in the U.S..
The investment bank is encouraged by Silvergate's growth potential and network of customers but concerned about competition and regulatory uncertainty.
Lempres takes over from Dennis Frank, who had served as chairman since 1996.
The network will compete with the Silvergate Exchange Network and Signature’s Signet in the 24/7 real-time payments market.
All-time transaction volume on the Silvergate Exchange Network (SEN), a fiat pathway into bitcoin markets, has reached $100 billion.
Silvergate is seeking as much as $65 million with its IPO debut on the New York Stock Exchange Thursday.