LA JOLLA, Calif .– (COMMERCIAL THREAD) – Silvergate Capital Corporation (“Silvergate” or the “Company”) (NYSE: SI), the leading provider of innovative financial infrastructure solutions for the digital currency industry, today announced that Jonathan Melton has joined his 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 US dollar (“USD”) loans backed by bitcoin using the Silvergate Exchange Network (“SEN”) to fund loans and process repayments on near-time. real, 24 hours a day, 7 days a week, 365 days a year.
Prior to joining Silvergate, Jonathan was Director of the Institutions group at Xapo, one of the world’s largest bitcoin custodians, which was acquired by Coinbase Custody in 2019. Jonathan has successfully extended Xapo’s presence with many of the most large endowments, hedge funds and families. US offices 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 range of foreign exchange products to domestic and international clients and led the retail currency platform through a period of substantial growth.
“We’re super focused on developing products that reduce friction and maximize capital efficiency for our customers, ”said Kate Fraher, COO at Silvergate. “Jonathan’s experience in developing and maintaining relationships with institutional investors will be invaluable as we develop SEN Leverage to meet the need for 24/7 access to capital in digital currency markets.
“We are delighted to welcome Jonathan to the team, ”added Ben Reynolds, executive vice president of business development at Silvergate. “His understanding of the digital currency industry and the market we serve will help us grow our digital asset lending business. ”
To learn more about Silvergate, visit our website: www.silvergatebank.com.
Silvergate Capital Corporation (NYSE: SI) is a registered banking 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 sector, and on developing product and service solutions that meet 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 equity of $ 284 million.