Silvergate Bank Report For The I Quarter of 2020: The Number Of Operations With BTC Increased

Representatives of Silvergate bank, loyal to the first cryptocurrency, reported about a significant increase in trading volumes with “digital gold”. They indicated it in the report for the main regulator of the United States - the Securities and Exchange Commission (SEC).

The volume of trading operations with bitcoin as well as the number of BTC transactions rose in the first quarter of this year. Moreover, the second indicator showed an increase of 118%.

As of the end of April 2020, Silvergate bank is servicing 850 large customers (exchanges, custodians, miners, and large private investors).

Representatives of the bank said that the increased volatility in the first quarter was a real test, but despite this, the volume of BTC deposits rose to a record of $447 million. The total income of the bank increased by 92% compared to the same period in the previous year.

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