Fidelity Now Extends Bitcoin-Backed Loans Through Silvergate
The custodian began offering cash loans collateralized by bitcoin last December but is now adding Silvergate customers to the mix.
“We are working hard to provide an alternative USD solution,” the exchange told traders in a widely shared email whose authenticity CoinDesk confirmed.
Diem is moving its "primary operations" from Switzerland to the U.S.
The majority of the bank’s new deposits came from cryptocurrency exchange clients.
Signature’s CEO said on an earnings call Wednesday the bank wants it to be a “no-loss business.”
In a low interest rate environment, CEO Alan Lane said he is more focused on keeping the Silvergate Exchange Network liquid with readily available deposits than in juicing short-term profit.