Speaking at a CNBC program, Silvergate Capital CEO Alan Lane noted on Monday that the organization will launch a stablecoin later this year.Silvergate CEO Alan Lane’s revelation that his company is planning to launch a stablecoin through its banking subsidiary Silvergate Bank came during hisEarlier in the day, the banking organization confirmed that it’s acquiring Diem Association’s IP, assets, and technology for $132 million in stock and $50 million in cash.
“With today’s sale, Silvergate will be well-placed to take this vision forward. Over the coming weeks, the Diem Association and its subsidiaries expect to begin the process of winding down, but we look forward to seeing the design choices – and the ideals – of Diem thrive,” Levey hinted at the future of Diem stablecoin in a new avatar.
In the interview with Cramer, Lane said Silvergate wants to see stablecoins to be used in everyday situations and not merely for trading. Talking about the real worth of Diem stablecoin, Lane said, “We think the potential worth is off the charts when we think about using the blockchain technology for payments and remittance.
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