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How Silvergate Capital Will Make Money on Stablecoins and Through Its Partnership With Facebook

·3 min read
How Silvergate Capital Will Make Money on Stablecoins and Through Its Partnership With Facebook
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In May, Silvergate Capital (NYSE: SI), a bank that operates in the cryptocurrency space, struck a blockbuster partnership with Facebook to become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly known as Facebook's Libra project. Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve. Let's take a look at how Silvergate is positioned to drive revenue from stablecoins and its partnership with Facebook.