Silver gate-IPO: California Bank wants to expand business with customers from the crypto-Space

the banks do not have to be necessarily crypto-hostile. On the contrary, more and more credit institutions to see the positive implications of the Blockchain technology, among other things, for the Tokenization of Assets. So also the Californian silver gate Bank. As a report from the news site Xconomy, the Bank plans a 50-million-U.S.-Dollar IPO. Funds from the capital increase, silver gate wants to expand its services for customers in the crypto-Ecosystem.

David-separator
26. November 2018 share Facebook Twitter LinkedIn xing mail

The Transformation from a traditional lending institution to the global leaders in terms of institutional management of Assets from the crypto-industry is the California Bank silver gate rapidly. Although no Details about the exact use of the new Capital resulting from the official SEC application through the IPO; the silver gate refers only to investments in "organic growth and General corporate purposes". In view of the explicit crypto-affinity of the Bank for the Expansion of crypto-Services, however, is more than likely.

Because of the silver gate is located since 2013 in the middle of the crypto sector. As Xconomy reported, is at the time CEO Alan Lane with the crypto Virus, and keeps the Bank since then, on course. 2014 silver gate with the Digital Currency Group (DCG) was able to gain a significant Holding from the crypto-Ecosystem. DCG invests in crypto Start-ups and holds, among other things, shares of news site CoinDesk. The fact that the Bank places so long ago a focus on clients from the crypto-Ecosystem, gives you an enormous competitive advantage:

"Our ability to define these markets over the last five years as a target group, provides us with a tremendous First-Mover advantage in the field of digital currencies. Crypto is the cornerstone of our business in currencies are therefore now.“

financial infrastructure for companies in the crypto area is becoming more and more important

Obviously, the Bank has taken with a focus on companies in the crypto sector, a nerve, because in spite of the bear market, the number of its customers is increasing rapidly. Overall, silver gate comes to an impressive 483 customers (as of 30. September) of their crypto division. Compared to the previous year, the credit institution recorded an increase of 323 percent in this area. This is evident from the IPO document. All cryptographic clients, taken together, behind, therefore, approximately $ 1.7 billion in silver gate.

The core business of silver gate differs from traditionally-oriented financial service providers, as it is not focused on the classic lending. Instead, the Bank focuses on Deposit-non-interest-bearing assets, which it invests with other Financial institutions or invested.

A large part of the traditional credit institutions, belongs to the crypto-Space, to put it mildly, passive to hostile. Meanwhile, more and more institutions are looking to escape to the front.

the most Important example in this country Bitwala. Like BTC-ECHO Bitwala wants to open reports in November Germany's first BaFin-compliant Blockchain account.