Silvergate Capital Corporation Plans To Provide Loans For Crypto Companies

Silvergate Capital Corporation recently filed an S-1 form in which they provide company information before the upcoming IPO they plan to launch. The firm is also a holding company of the crypto-friendly Silvergate Bank. One of the interesting features of this filing is that they can provide borrowed funds for the cryptocurrency industry.

In a situation when the cryptocurrency market is going through a difficult period of relations with the banking industry, Silvergate Capital Corporation proposed a solution for crypto startups:

“Services, such as digital currency borrowing facilities, do not currently exist in a meaningful way, creating significant opportunities for us to facilitate growth in the industry and extend our leadership position into other elements of digital currency infrastructure.”

The financial company is also enthusiastic about the future of the cryptocurrency market. They believe that the institutional recognition of crypto space is yet to come. Earlier, Silvergate Capital Corporation has recognized that it serves crypto-related customers. S-1 prospectus, filed with the U.S. Securities and Exchange Commission (SEC) in 2018, reports that the firm serves 483 cryptocurrencies with more than $ 1.7 billion in deposits.

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