Tags: Silvergate Exchange Network

The real-time payments platform, popular with crypto businesses, will continue to be offered under the newly established Signature Bridge Bank entity, a source told CoinDesk.

Some of the services provided by Silvergate will migrate to other banks such as Signature Bank, Provident Bancorp, Metropolitan Commercial Bank and Customers Bancorp, the report said.

The exchange’s current banking partner is only accessible to users based in the European Economic Area (EEA).

The bank’s exchange network, SEN, had a simple premise and played a crucial role from its inception in 2018 through its shutdown on Friday. Analysts and experts are handicapping who might fill the void.

Wire transfer and USDC remain an option for Dapper users.

The company also reiterated its expectation to have 23 EH/s of mining capacity around the middle of 2023.