Time is Money
We understand that digital currencies trade globally 24/7 which is why we created the Silvergate Exchange Network, also known as SEN. Our platform allows institutional investors to move U.S. dollars to digital currency exchanges 24/7 in real time (and at no extra cost).
The Silvergate Exchange Network (SEN) significantly changed how CMT Digital trades crypto assets by making the process much more efficient from a time and cost standpoint while also materially mitigating counterparty risk. Silvergate Bank is one of the leaders in merging banking and innovative technology through SEN, a straightforward user interface, and reliable customer service.
— Colleen Sullivan, Co-Founder & CEO, CMT Digital
Reduce Banking Friction
We designed our platform to move your U.S. dollars efficiently through the digital currency ecosystem of exchanges and trading partners. Our technology, regulatory compliance, and private client service model ensure you spend less time banking and more time executing.
Personalized service tailored to your specific needs
Greater speed and automation for managing your accounts
Silvergate Exchange Network
Real-time USD settlement between counterparties
As an institutional investor, what are the requirements for banking with Silvergate?
There are a number of factors that we consider when evaluating institutional investors, which depend on whether you are operating a hedge fund, proprietary trading firm, equity fund or another investment vehicle. Generally speaking, we want to understand the structure of the investment vehicle and the service providers that are being used by the investment manager.
What is the Silvergate Exchange Network (SEN)?
SEN enables our digital currency and institutional investor clients to send U.S. dollars 24 hours a day, 7 days a week, 365 days a year between their Silvergate bank accounts and the bank accounts of other Silvergate clients. This can be done via our API or online banking portal, enabling real-time transfers and immediate availability of funds.
What is the cost of using SEN?
In order to participate in SEN, you need to maintain a banking relationship with Silvergate. We do not have SEN-specific fees, but normal bank charges and fees do apply depending on the activity that is being conducted.
What types of cash management services does Silvergate offer?
We offer both wire and ACH services to clients based on several factors. Cash management services can be complex, especially for digital currency and broader fintech use cases. Our client service experts will explain how these services work and which firms are eligible for participation. Upon approval, we work closely with your technical and finance teams to ensure that implementation is efficient and timely.
Does Silvergate offer debit cards for our executives and employees?
Yes, we do. They are valid everywhere Visa is accepted.
Does Silvergate provide custody solutions for digital currencies or other digital assets?
We get this request frequently. Our team is exploring this product offering but we don’t have a custody solution for digital assets right now.