The suspension of Silvergate's cryptocurrency payments system is seeing digital assets managers scrambling to find new banking partners.
With US$400 million in assets under management, a crypto fund manager is looking to Swiss banks to fill the vacuum left by the collapse of a crucial payments network run by struggling US lender Silvergate Capital.
Silvergate's 24/7/365 real-time network was utilised by Digital Asset Management to transfer money to and from Coinbase Global Inc.
But, major exchanges like Coinbase, Crypto.com, and Gemini no longer support Silvergate.
These moves, while seemingly at odds, underscore the country’s strategic deployment of digital assets to address both domestic and international challenges.
Singapore has approved more crypto exchange licenses than Hong Kong and has issued almost double the amount of blockchain patents while having more than twice the number of blockchain jobs
If implemented successfully, the proposed Bitcoin sandbox in Phuket could position Thailand as a regional leader in digital innovation.
South Korea and the US partner to combat crypto crime, boost security, and curb laundering through advanced tech against cyber and ransomware threats
Crypto heavyweights vie for seats in Trump's advisory council on digital assets, eyeing influence over pro-Bitcoin policies and regulation
These moves, while seemingly at odds, underscore the country’s strategic deployment of digital assets to address both domestic and international challenges.
Singapore has approved more crypto exchange licenses than Hong Kong and has issued almost double the amount of blockchain patents while having more than twice the number of blockchain jobs
If implemented successfully, the proposed Bitcoin sandbox in Phuket could position Thailand as a regional leader in digital innovation.
