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.
Crypto lender BlockFi now supports cash deposits.
First Digital Trust has won backing from Taiwan-based Nogle for its upcoming Asia-focused crypto settlement solution for institutions.
The new settlement layer is intended save Asian institutional traders from taking the "scenic route" via U.S. banking regulations.
Silvergate made its name providing fiat banking services for crypto businesses. Now, CEO Alan Lane wants the bank to handle digital assets themselves.
The La Jolla, Calif.-based bank, which went public on the New York Stock Exchange under the trading symbol SI in November, released its earnings report before market open on Wednesday.
Metropolitan Commercial Bank’s deposits from crypto firms have steadily declined, a sign of heightened competition in a field where the bank was once one of the only games in town.
Benjamin Richman, formerly director of business development and partnerships at Blockstream, will help the crypto-friendly bank pursue its ambitious goals for serving the crypto industry.
“Now that we're public, we have more efficient access to capital to support our growth,” Silvergate Bank CEO Alan Lane said in an interview.
The Silvergate Exchange Network provides a frictionless way to transfer U.S. dollars "around the clock."
Silvergate Bank, one of the cryptocurrency industry's few go-to financial service providers, is planning to become a crypto lender.
Silvergate Bank added 59 crypto clients in the fourth quarter, but its deposits from the industry shrank by $123 million.
While crypto-land is abuzz about JPMorgan’s plan to move dollars via blockchain, a smaller New York bank is already doing this.
Silvergate Bank CEO Alan Lane shared his approach to serving the cryptocurrency industry with bankers at the Block FS conference.