On Oct. 18, Silvergate Capital, a crypto-fiat gateway network designed for financial institutions, announced its financial results for Q3 2022. The bank, known for services such as processing consumer fiat deposits to cryptocurrency exchanges, saw thetransfer volume on the Silvergate Exchange Network plummet close to $50 billion compared to Q3 2021. Silvergate handled $112.6 billion … Read more
Digital asset custody platform GK8 has partnered with 2ND Market, a Brazilian crypto holding company, to expand cryptocurrency product offerings in Brazil — a move both companies say would support continued adoption in Latin America’s largest economy. Under the partnership agreement, GK8 will license its institutional-grade custody platform to 2ND Market to give Brazilian users … Read more
The market capitalization of USD Coin (USDC), a stablecoin issued by U.S.-based payment tech firm Circle, has dropped below $50 billion for the first time since January 2022. On the weekly chart, USDC’s market cap, which reflects the number of U.S. dollar-backed tokens in circulation, fell to $49.39 billion on Sep. 26, down almost 12% … Read more
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