Silvergate Capital CEO Alan Lane stated that the company may expand its Bitcoin (BTC) lending program.
Speaking during the company’s earnings call, Lane expressed that Silvergate Capital is keen to “get more opportunities” to expand its Bitcoin lending program.
Silvergate made a $205 million Bitcoin-backed loan last month to Michael Saylor’s company MicroStrategy. According to the CEO’s statement, the bank wants to do more. “This is a great time to be a Bitcoin banker,” said
Lane.
The loan to MicroStrategy came through Silvergate’s Silvergate Exchange Network Leverage Program, a platform established for making loans against Bitcoin held on a company’s balance sheet.
Additionally, Silvergate has announced that plans to issue a stablecoin are on track, although they did not give a firm date.
Silvergate purchased technology and other assets from Meta’s stablecoin project Diem in January.
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