Silvergate (SI) Stock Gains After Confirming Purchase of Meta's (FB) Diem Group Stablecoin Technology
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STATEMENT BY DIEM CEO STUART LEVEY ON THE SALE OF THE DIEM GROUP'S ASSETS TO SILVERGATE
January 31, 2022 5:00 PM ESTWASHINGTON, Jan. 31, 2022 /PRNewswire/ -- The Diem Association today announced the sale of its intellectual property and other assets related to the running of the Diem Payment Network to Silvergate Capital Corporation ("Silvergate") (NYSE: SI). Diem Networks US ("Diem") CEO Stuart Levey issued the following statement accompanying the announcement:Â
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Silvergate Purchases Blockchain Payment Network Assets from Diem
January 31, 2022 5:00 PM ESTThe acquisition will advance Silvergates technical capabilities and enhance its stablecoin infrastructure initiative
LA JOLLA, Calif.--(BUSINESS WIRE)-- Silvergate Capital Corporation (Silvergate) (NYSE: SI) today announced that it has acquired intellectual property and other technology assets related to running a blockchain-based payment network from the Diem Group (Diem), further investing in its platform and enhancing its existing stablecoin infrastructure. Silvergate is uniquely positioned to leverage this technology to further solidify its position as a leader in the digital currency industry.
The assets acquired by Silvergate include development, deployment and operations... More
