Silvergate Announces Expansion of Silvergate Exchange Network to Include Euros
February 15 2022 - 9:00AM
Business Wire
Silvergate Capital Corporation (“Silvergate” or the “Company”)
(NYSE: SI), the leading provider of innovative financial
infrastructure solutions to the digital currency industry, today
announced Euro SEN – an expansion of the Silvergate Exchange
Network (“SEN”) – to enable customers to transfer euros in near
real-time, 24 hours a day, 7 days a week.
“The SEN, which recently crossed $1 trillion in cumulative
payment volumes, is integral to the everyday operations of our
digital currency customers,” said Alan Lane, chief executive
officer of Silvergate. “The launch of Euro SEN is an extension of
our commitment to building a superior payments platform, and we are
excited that our customers can now move euros 24/7 just as they do
U.S. dollars.”
Euro SEN was built using the same technology as the existing
U.S. dollar SEN payment rails and enables customers to send euros
to other Silvergate customers with immediate access to funds.
Additionally, customers can seamlessly convert euros to and from
U.S. dollars in near real-time.
The technology, which is accessible through Silvergate’s
proprietary API and its online banking platform, allows digital
currency exchanges and institutional investors to limit exposure to
overnight price fluctuations around the world and take advantage of
additional trading opportunities.
About Silvergate
Silvergate Capital Corporation (NYSE: SI) is the leading
provider of innovative financial infrastructure solutions and
services for the growing digital currency industry. The Company’s
real-time payments platform, known as the Silvergate Exchange
Network, is at the heart of its customer-centric suite of payments,
lending and funding solutions serving an expanding class of digital
currency companies and investors around the world. Silvergate is
enabling the rapid growth of digital currency markets and reshaping
global commerce for a digital currency future.
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version on businesswire.com: https://www.businesswire.com/news/home/20220215005242/en/
For Silvergate: Natalie Short press@silvergate.com
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