Published on: March 16th, 2021 • Duration: 54 minutes
Alan Lane, CEO of Silvergate Bank, and Ben Reynolds, chief strategy officer of Silvergate Bank, joins Ash Bennington, Real Vision senior editor, to discuss Silvergate’s move into the cryptocurrency space, crypto collateralized loans, and infrastructure opportunities. Lane explains that, in 2013, many Bitcoin ecosystem startups were struggling to find and maintain bank accounts, and Silvergate saw this as an opportunity to help support the industry and increase deposits. Silvergate offers Bitcoin collateralized U.S. dollar loans with their product called SEN Leverage. As they build out infrastructure to bridge the banking world to the crypto world, they view this as a large part of their role in the ecosystem. Silvergate is the transactional bank for U.S. dollar backed, regulated stable coin offerings such as USDC and GUSD, helping to ensure compliance and security for these crucial infrastructural components of the industry. Filmed on March 10, 2021. You can check out their website here: https://www.silvergatebank.com/. Silvergate is a sponsor of Real Vision Crypto.
Key Learnings: Silvergate provides crucial infrastructure to many U.S. dollar backed, regulated stable coin offerings. They also provide Bitcoin collateralized U.S. dollar loans. Silvergate aims to be the bridge connecting banking services to Bitcoin ecosystem projects.