Silvergate is uniquely positioned to leverage Diem’s technology to further solidify its position as a leader in the digital currency industry.
Browsing: Diem
What is Diem?
The Libra Association put together by Facebook rebranded to Diem in 2020 after facing a regulatory backlash. Diem plans to issue a single stablecoin pegged to the US dollar, contrary to the earlier plans of Libra to issue a series of stablecoins backed by individual traditional currencies, as well as a token based on the currency-pegged stablecoins. Diem has built a blockchain-based payment system to support financial inclusion and financial services innovation.
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Silvergate Bank is one of the few U.S. banks serving crypto-related businesses. Silvergate lists Coinbase, Kraken, Bitstamp and others as customers.