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Silvergate Posts Strong Q1 and Says It's Looking to Stablecoins as a Growth Avenue

Amy Liu

Summary: Crypto-friendly bank Silvergate is still growing with the help of its payments platform, the Silvergate Exchange Network (SEN). To keep the momentum of Q1 2021, it's looking at opportunities related to stablecoins. CEO Alan Lane said usage of SEN has continued to grow "at a record pace" during the Q1 earnings call this week. In ...

Crypto-friendly bank Silvergate is still growing with the help of its payments platform, the Silvergate Exchange Network (SEN). To keep the momentum of Q1 2021, it's looking at opportunities related to stablecoins.

CEO Alan Lane said usage of SEN has continued to grow "at a record pace" during the Q1 earnings call this week. In Q4 of 2020, SEN volume reached $59 billion. That figure jumped to $166 billion in Q1 2021. 

By Amy Liu

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