Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system. The payment totaled $182 million. The technology and assets acquired will reportedly be used for the launch of a Silvergate branded stablecoin. Silvergate Purchases Diem Operations Silvergate Capital, a payments services company, has acquired Diem, a stablecoin payments system originally put in motion by Facebook (now Meta), to integrate it into its operations. The announcement was made on January 31st, when the company explained the details of the rumored operation. The deal includes the purchase of intellectual property and other technology assets related to running a blockchain-based payment network from the Diem Group, according to a press release. Silvergate Capital aims to leverage the acquired assets to issue a stablecoin of its own, with the support of a California-chartered and Federa...
Official Bitcoin Latest News Blog 🗞️