I have trimmed some Amgen $AMGN and added some Silvergate Captial $SI to my SIPP.
“Having moved faster than any other U.S. bank in the space, Silvergate aims to stay ahead by creating products and services clients request.
Through the Silvergate Exchange Network (SEN), which allows customers to instantly move dollars between different crypto exchanges and is open even on weekends, the bank is piloting new features such as bitcoin margin lending. The product is called SEN Leverage.
“Their SEN is probably the most useful service that they offer and what sets them apart from every other bank,” said Michael Gilman, manager of treasury at MG Stover, a fund administration firm. “So giving their clients the ability to transact with other blockchain counterparties 24/7 is what separates from the pack.”
Without the SEN, crypto companies would be bound to the Fedwire system on which banks settle transactions.”