Silvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin

fool2021-05-13

The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as...

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Comments

jo88
2021-05-13
jo88
Like and comment
Suresh999
2021-05-13
Suresh999
Oh ok
AhKeong
2021-05-13
AhKeong
Another monopoly
- sunnylimbs:
  good
Ivylow
2021-05-13
Ivylow
Like and comment
- sunnylimbs:
  good
Syrope
2021-05-13
Syrope
Seems interesting. Like and comment please
- Syrope:
  Thank u! Cld u reply this again?
- sk2550007:
  :)
fries
2021-05-13
fries
ok

Leave a comment

102

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We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. 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We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"</p><p>The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.</p><p>Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.</p><p>Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSilvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 11:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/><strong>fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169521136","content_text":"The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as Facebook's Libra project.Stablecoins are cryptocurrencies tied to other assets such as Gold or the U.S. dollar in order to provide more stability to the digital currency, but still reap the advantages digital currencies can offer when it comes to payments solutions.Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.\"We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems,\" Silvergate Capital's CEO Alan Lane said in a statement. \"We're inspired by Diem's technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money. We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. It's ideal for crypto traders and exchanges because cryptocurrencies trade around the clock.On Silvergate's recent earnings call, management said SEN already provides each of the four regulated U.S. stablecoin issuers with critical infrastructure to operate. The bank also said stablecoins present a significant fee income opportunity.Shares of Silvergate were up more than 18% in after-hours trading as of 6:10 p.m EDT.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":191506171,"gmtCreate":1620885938593,"gmtModify":1704349909093,"author":{"id":"3581644896223732","authorId":"3581644896223732","name":"Suresh999","avatar":"https://static.tigerbbs.com/b75e0b2611994b10d3585f3fd574711f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581644896223732","authorIdStr":"3581644896223732"},"htmlText":"Oh ok&nbsp;","listText":"Oh ok&nbsp;","text":"Oh ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191506171","repostId":1169521136,"repostType":4,"repost":{"id":"1169521136","kind":"news","pubTimestamp":1620877688,"share":"https://ttm.financial/m/news/1169521136?lang=&edition=fundamental","pubTime":"2021-05-13 11:48","market":"us","language":"en","title":"Silvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1169521136","media":"fool","summary":"The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that ","content":"<p>The crypto bank&nbsp;<b>Silvergate Capital</b>(NYSE:SI)and&nbsp;<b>Facebook</b>(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as Facebook's Libra project.</p><p>Stablecoins are cryptocurrencies tied to other assets such as Gold or the U.S. dollar in order to provide more stability to the digital currency, but still reap the advantages digital currencies can offer when it comes to payments solutions.</p><p>Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.</p><p>\"We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems,\" Silvergate Capital's CEO Alan Lane said in a statement. \"We're inspired by Diem's technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money. We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"</p><p>The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.</p><p>Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.</p><p>Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. It's ideal for crypto traders and exchanges because cryptocurrencies trade around the clock.</p><p>On Silvergate's recent earnings call, management said SEN already provides each of the four regulated U.S. stablecoin issuers with critical infrastructure to operate. The bank also said stablecoins present a significant fee income opportunity.</p><p>Shares of Silvergate were up more than 18% in after-hours trading as of 6:10 p.m EDT.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Silvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSilvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 11:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/><strong>fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169521136","content_text":"The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as Facebook's Libra project.Stablecoins are cryptocurrencies tied to other assets such as Gold or the U.S. dollar in order to provide more stability to the digital currency, but still reap the advantages digital currencies can offer when it comes to payments solutions.Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.\"We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems,\" Silvergate Capital's CEO Alan Lane said in a statement. \"We're inspired by Diem's technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money. We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. It's ideal for crypto traders and exchanges because cryptocurrencies trade around the clock.On Silvergate's recent earnings call, management said SEN already provides each of the four regulated U.S. stablecoin issuers with critical infrastructure to operate. The bank also said stablecoins present a significant fee income opportunity.Shares of Silvergate were up more than 18% in after-hours trading as of 6:10 p.m EDT.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":191249476,"gmtCreate":1620883625095,"gmtModify":1704349879143,"author":{"id":"3579764463709225","authorId":"3579764463709225","name":"AhKeong","avatar":"https://community-static.tradeup.com/news/b20c0291da6c54ef8f3c421a4ed45c27","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3579764463709225","authorIdStr":"3579764463709225"},"htmlText":"Another monopoly&nbsp;","listText":"Another monopoly&nbsp;","text":"Another monopoly","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/191249476","repostId":1169521136,"repostType":4,"repost":{"id":"1169521136","kind":"news","pubTimestamp":1620877688,"share":"https://ttm.financial/m/news/1169521136?lang=&edition=fundamental","pubTime":"2021-05-13 11:48","market":"us","language":"en","title":"Silvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1169521136","media":"fool","summary":"The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that ","content":"<p>The crypto bank&nbsp;<b>Silvergate Capital</b>(NYSE:SI)and&nbsp;<b>Facebook</b>(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as Facebook's Libra project.</p><p>Stablecoins are cryptocurrencies tied to other assets such as Gold or the U.S. dollar in order to provide more stability to the digital currency, but still reap the advantages digital currencies can offer when it comes to payments solutions.</p><p>Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.</p><p>\"We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems,\" Silvergate Capital's CEO Alan Lane said in a statement. \"We're inspired by Diem's technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money. We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"</p><p>The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.</p><p>Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.</p><p>Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. It's ideal for crypto traders and exchanges because cryptocurrencies trade around the clock.</p><p>On Silvergate's recent earnings call, management said SEN already provides each of the four regulated U.S. stablecoin issuers with critical infrastructure to operate. The bank also said stablecoins present a significant fee income opportunity.</p><p>Shares of Silvergate were up more than 18% in after-hours trading as of 6:10 p.m EDT.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Silvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSilvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 11:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/><strong>fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169521136","content_text":"The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as Facebook's Libra project.Stablecoins are cryptocurrencies tied to other assets such as Gold or the U.S. dollar in order to provide more stability to the digital currency, but still reap the advantages digital currencies can offer when it comes to payments solutions.Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.\"We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems,\" Silvergate Capital's CEO Alan Lane said in a statement. \"We're inspired by Diem's technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money. We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. It's ideal for crypto traders and exchanges because cryptocurrencies trade around the clock.On Silvergate's recent earnings call, management said SEN already provides each of the four regulated U.S. stablecoin issuers with critical infrastructure to operate. The bank also said stablecoins present a significant fee income opportunity.Shares of Silvergate were up more than 18% in after-hours trading as of 6:10 p.m EDT.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4311435,"gmtCreate":1620883694329,"gmtModify":1680788486816,"authorId":3581734197173658,"author":{"id":3581734197173658,"idStr":"3581734197173658","authorId":3581734197173658,"name":"sunnylimbs","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":191249476,"type":1,"supId":0,"prevId":0,"content":"good","text":"good","html":"good"}],"langContent":"EN"},{"id":191240943,"gmtCreate":1620883509182,"gmtModify":1704349876884,"author":{"id":"3582161778784599","authorId":"3582161778784599","name":"Ivylow","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582161778784599","authorIdStr":"3582161778784599"},"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/191240943","repostId":1169521136,"repostType":4,"repost":{"id":"1169521136","kind":"news","pubTimestamp":1620877688,"share":"https://ttm.financial/m/news/1169521136?lang=&edition=fundamental","pubTime":"2021-05-13 11:48","market":"us","language":"en","title":"Silvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1169521136","media":"fool","summary":"The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that ","content":"<p>The crypto bank&nbsp;<b>Silvergate Capital</b>(NYSE:SI)and&nbsp;<b>Facebook</b>(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as Facebook's Libra project.</p><p>Stablecoins are cryptocurrencies tied to other assets such as Gold or the U.S. dollar in order to provide more stability to the digital currency, but still reap the advantages digital currencies can offer when it comes to payments solutions.</p><p>Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.</p><p>\"We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems,\" Silvergate Capital's CEO Alan Lane said in a statement. \"We're inspired by Diem's technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money. We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"</p><p>The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.</p><p>Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.</p><p>Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. It's ideal for crypto traders and exchanges because cryptocurrencies trade around the clock.</p><p>On Silvergate's recent earnings call, management said SEN already provides each of the four regulated U.S. stablecoin issuers with critical infrastructure to operate. The bank also said stablecoins present a significant fee income opportunity.</p><p>Shares of Silvergate were up more than 18% in after-hours trading as of 6:10 p.m EDT.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Silvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSilvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 11:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/><strong>fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169521136","content_text":"The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as Facebook's Libra project.Stablecoins are cryptocurrencies tied to other assets such as Gold or the U.S. dollar in order to provide more stability to the digital currency, but still reap the advantages digital currencies can offer when it comes to payments solutions.Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.\"We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems,\" Silvergate Capital's CEO Alan Lane said in a statement. \"We're inspired by Diem's technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money. We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. It's ideal for crypto traders and exchanges because cryptocurrencies trade around the clock.On Silvergate's recent earnings call, management said SEN already provides each of the four regulated U.S. stablecoin issuers with critical infrastructure to operate. The bank also said stablecoins present a significant fee income opportunity.Shares of Silvergate were up more than 18% in after-hours trading as of 6:10 p.m EDT.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4311437,"gmtCreate":1620883706260,"gmtModify":1680788484010,"authorId":3581734197173658,"author":{"id":3581734197173658,"idStr":"3581734197173658","authorId":3581734197173658,"name":"sunnylimbs","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":191240943,"type":1,"supId":0,"prevId":0,"content":"good","text":"good","html":"good"}],"langContent":"EN"},{"id":191225300,"gmtCreate":1620882531700,"gmtModify":1704349859617,"author":{"id":"3582110607927501","authorId":"3582110607927501","name":"Syrope","avatar":"https://static.tigerbbs.com/7ddaf202594282f1436af195f5cd39e4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582110607927501","authorIdStr":"3582110607927501"},"htmlText":"Seems interesting. Like and comment please","listText":"Seems interesting. Like and comment please","text":"Seems interesting. Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/191225300","repostId":1169521136,"repostType":4,"repost":{"id":"1169521136","kind":"news","pubTimestamp":1620877688,"share":"https://ttm.financial/m/news/1169521136?lang=&edition=fundamental","pubTime":"2021-05-13 11:48","market":"us","language":"en","title":"Silvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1169521136","media":"fool","summary":"The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that ","content":"<p>The crypto bank&nbsp;<b>Silvergate Capital</b>(NYSE:SI)and&nbsp;<b>Facebook</b>(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as Facebook's Libra project.</p><p>Stablecoins are cryptocurrencies tied to other assets such as Gold or the U.S. dollar in order to provide more stability to the digital currency, but still reap the advantages digital currencies can offer when it comes to payments solutions.</p><p>Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.</p><p>\"We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems,\" Silvergate Capital's CEO Alan Lane said in a statement. \"We're inspired by Diem's technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money. We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"</p><p>The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.</p><p>Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.</p><p>Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. It's ideal for crypto traders and exchanges because cryptocurrencies trade around the clock.</p><p>On Silvergate's recent earnings call, management said SEN already provides each of the four regulated U.S. stablecoin issuers with critical infrastructure to operate. The bank also said stablecoins present a significant fee income opportunity.</p><p>Shares of Silvergate were up more than 18% in after-hours trading as of 6:10 p.m EDT.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Silvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSilvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 11:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/><strong>fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169521136","content_text":"The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as Facebook's Libra project.Stablecoins are cryptocurrencies tied to other assets such as Gold or the U.S. dollar in order to provide more stability to the digital currency, but still reap the advantages digital currencies can offer when it comes to payments solutions.Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.\"We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems,\" Silvergate Capital's CEO Alan Lane said in a statement. \"We're inspired by Diem's technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money. We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. It's ideal for crypto traders and exchanges because cryptocurrencies trade around the clock.On Silvergate's recent earnings call, management said SEN already provides each of the four regulated U.S. stablecoin issuers with critical infrastructure to operate. The bank also said stablecoins present a significant fee income opportunity.Shares of Silvergate were up more than 18% in after-hours trading as of 6:10 p.m EDT.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4311270,"gmtCreate":1620882677934,"gmtModify":1680788473778,"authorId":3582110607927501,"author":{"id":3582110607927501,"idStr":"3582110607927501","authorId":3582110607927501,"name":"Syrope","avatar":"https://static.tigerbbs.com/7ddaf202594282f1436af195f5cd39e4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":191225300,"type":1,"supId":4311254,"prevId":0,"content":"Thank u! Cld u reply this again?","text":"Thank u! Cld u reply this again?","html":"Thank u! Cld u reply this again?"},{"id":4311254,"gmtCreate":1620882601243,"gmtModify":1680788473657,"authorId":3581490759570675,"author":{"id":3581490759570675,"idStr":"3581490759570675","authorId":3581490759570675,"name":"sk2550007","avatar":"https://static.tigerbbs.com/8b5d3961a1a21ba4adc0e9a839b7ebb6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":191225300,"type":1,"supId":0,"prevId":0,"content":":)","text":":)","html":":)"}],"langContent":"EN"},{"id":191222295,"gmtCreate":1620882488817,"gmtModify":1704349858328,"author":{"id":"3555327644623732","authorId":"3555327644623732","name":"fries","avatar":"https://static.tigerbbs.com/b4d2819af7e077fb1c7244fb2aa5b780","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3555327644623732","authorIdStr":"3555327644623732"},"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191222295","repostId":1169521136,"repostType":4,"repost":{"id":"1169521136","kind":"news","pubTimestamp":1620877688,"share":"https://ttm.financial/m/news/1169521136?lang=&edition=fundamental","pubTime":"2021-05-13 11:48","market":"us","language":"en","title":"Silvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1169521136","media":"fool","summary":"The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that ","content":"<p>The crypto bank&nbsp;<b>Silvergate Capital</b>(NYSE:SI)and&nbsp;<b>Facebook</b>(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as Facebook's Libra project.</p><p>Stablecoins are cryptocurrencies tied to other assets such as Gold or the U.S. dollar in order to provide more stability to the digital currency, but still reap the advantages digital currencies can offer when it comes to payments solutions.</p><p>Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.</p><p>\"We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems,\" Silvergate Capital's CEO Alan Lane said in a statement. \"We're inspired by Diem's technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money. We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"</p><p>The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.</p><p>Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.</p><p>Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. It's ideal for crypto traders and exchanges because cryptocurrencies trade around the clock.</p><p>On Silvergate's recent earnings call, management said SEN already provides each of the four regulated U.S. stablecoin issuers with critical infrastructure to operate. The bank also said stablecoins present a significant fee income opportunity.</p><p>Shares of Silvergate were up more than 18% in after-hours trading as of 6:10 p.m EDT.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Silvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSilvergate Capital to Become Exclusive Issuer of Facebook's Diem Stablecoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 11:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/><strong>fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/12/silvergate-capital-to-become-exclusive-issuer-of-f/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169521136","content_text":"The crypto bank Silvergate Capital(NYSE:SI)and Facebook(NASDAQ:FB)have announced a partnership that will see Silvergate become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly know as Facebook's Libra project.Stablecoins are cryptocurrencies tied to other assets such as Gold or the U.S. dollar in order to provide more stability to the digital currency, but still reap the advantages digital currencies can offer when it comes to payments solutions.Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.\"We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems,\" Silvergate Capital's CEO Alan Lane said in a statement. \"We're inspired by Diem's technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money. We're excited to be at a place in the process where we can announce this product with confidence and look forward to continuing our work with Diem to bring this to market.\"The Diem Association is a member-based association with merchants, payment service providers, social impact partners, and other entities. Its goal is to offer a more efficient and lower-cost payments solution that is more secure, and can protect consumers and fight financial crime.Silvergate is a small $7 billion asset bank that specializes in banking crypto exchanges and institutional trades of cryptocurrencies that interact with one another.Its Silvergate Exchange Network (SEN) is a real-time payments network that can clear transactions in U.S. dollars instantly around the clock, 365 days a year, between two users in the network. It's ideal for crypto traders and exchanges because cryptocurrencies trade around the clock.On Silvergate's recent earnings call, management said SEN already provides each of the four regulated U.S. stablecoin issuers with critical infrastructure to operate. The bank also said stablecoins present a significant fee income opportunity.Shares of Silvergate were up more than 18% in after-hours trading as of 6:10 p.m EDT.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":102,"commentSize":31,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1169521136"}