Silvergate Announces Addition of Jonathan Melton as Director of Digital Asset Lending
November 05 2020 - 7:30AM
Business Wire
Silvergate Capital Corporation (“Silvergate” or the “Company”)
(NYSE:SI), the leading provider of innovative financial
infrastructure solutions to the digital currency industry,
announced today that Jonathan Melton joined its team as director of
digital asset lending. In this role, Jonathan will lead the
expansion of the Company’s SEN Leverage product. SEN Leverage
allows customers to obtain U.S. dollar (“USD”) loans collateralized
by bitcoin using the Silvergate Exchange Network (“SEN”) to fund
loans and process repayments in virtually real-time, 24 hours per
day, 7 days per week, 365 days per year.
Before joining Silvergate, Jonathan was a Director in the
Institutions group at Xapo, one of the largest bitcoin custodians
in the world, which was acquired by Coinbase Custody in 2019.
Jonathan successfully expanded Xapo’s presence with many of the
largest endowments, hedge funds and family offices in the U.S.
Before and after his time at Xapo, Jonathan was employed by Morgan
Stanley for a total of 13 years. In his roles at Morgan Stanley,
Jonathan distributed a diverse foreign exchange product suite to
domestic and international clients and led the retail currency
platform through a period of substantial growth.
“We are hyper-focused on developing products that reduce
friction and maximize capital efficiency for our customers,” said
Kate Fraher, chief operating officer at Silvergate. “Jonathan’s
experience developing and maintaining institutional investor
relationships will be invaluable as we grow SEN Leverage to address
the need for 24/7 access to capital in the digital currency
markets.”
“We are thrilled to welcome Jonathan to the team,” added Ben
Reynolds, executive vice president of corporate development at
Silvergate. "His understanding of the digital currency industry and
the market we serve will be instrumental in helping us grow our
digital asset lending business.”
To learn more about Silvergate, visit our website: www.silvergatebank.com.
About Silvergate
Silvergate Capital Corporation (NYSE:SI) is a registered bank
holding company for Silvergate Bank, headquartered in La Jolla,
California. Silvergate Bank is a commercial bank that opened in
1988 and has been profitable for 22 consecutive years. The Bank has
focused its strategy on creating the banking platform for
innovators, especially in the digital currency industry, and
developing product and service solutions addressing the needs of
entrepreneurs. As of September 30, 2020, Silvergate had total
assets of $2.6 billion, total deposits of $2.3 billion, and total
stockholders’ equity of $284 million.
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version on businesswire.com: https://www.businesswire.com/news/home/20201105005162/en/
Media Kaitlin Myers (858) 362-6302 x1113
kmyers@silvergate.com Investor Relations Jamie Lillis /
Shannon Devine (858) 200-3782 Investors@silvergate.com
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