Share this article
Fidelity Now Extends Bitcoin-Backed Loans Through Silvergate
The custodian began offering cash loans collateralized by bitcoin last December but is now adding Silvergate customers to the mix.
Updated May 9, 2023, 3:17 a.m. Published Mar 29, 2021, 2:08 p.m.
Silvergate Bank will be the second lender to extend bitcoin-backed loans to investors who custody their crypto with Fidelity.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Fidelity began accepting bitcoin as collateral for cash loans in December after partnering with crypto lender BlockFi. The product targets investors who are interested in using their bitcoin without selling it, hedge funds, miners and over-the-counter trading desks.
Silvergate has been offering bitcoin-backed loans since June through its Silvergate Exchange Network, which allows customers to instantly move dollars between different crypto exchanges and is open even on weekends.
Read more: Fidelity Digital to Accept Bitcoin Collateral on Cash Loans for Institutions
“Like Silvergate, we recognize the opportunity to create a more seamless investor experience by helping institutions maximize capital efficiency, as well as the opportunity to strengthen the digital assets ecosystem through greater integration and collaborations like this,” Christine Sandler, head of sales and marketing at Fidelity Digital Assets, said in a press release.
This is a developing story and will be updated.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto Firm Tether Says It Wants to Take Over Italian Football Club Juventus
The issuer behind the most popular stablecoin said that if the bid succeeds, it prepares to invest $1 billion in the football club.
What to know:
- Tether said it aims to take over popular Italian football club Juventus FC.
- The firm proposed to acquire Exor's 65.4% stake in an all-cash offer, and intends to make a public offer for the rest of the shares.
- Tether reported net profits exceeding $10 billion this year, while its flagship token USDT is the world's dominant stablecoin with a $186 billion market capitalization.
Top Stories
