Silvergate: how servicing the digital asset industry established a differentiated business model

Founded in La Jolla, California in the late 1980s, Silvergate began as a traditional commercial bank, but started exploring the idea of serving the digital currency industry in 2013.

After finding recent success, Silvergate has since pivoted and is now almost entirely focused on providing banking services to cryptocurrency-related companies. Last year, the bank consolidated its four bank branches into two, then sold one of those branches as well as its business lending arm.