Previously Crypto-Only BlockFi Adds Cash On-Ramp Through Silvergate Partnership
Crypto lender BlockFi now supports cash deposits.
ErisX, a crypto exchange for institutional investors, has joined the payments network of bitcoin-friendly Silvergate Bank.
Silvergate Bank added 46 crypto customers in the first quarter and saw fee income and deposits increase from those customers because of “Black Thursday,” according to its earnings report released before market open on Wednesday.
Silvergate Bank continued to add a steady drip of crypto customers in Q2 2020 but its issuance of bitcoin-collateralized loans is what stood out.
Crypto-friendly Metropolitan Commercial Bank reported $25 million more in deposits from crypto customers in the first quarter of 2020.
Crypto-friendly Silvergate Bank resolved the last of its wire transfer issues Tuesday morning, said CEO Alan Lane.