Crypto-friendly bank Silvergate releases financial report, digital currency fee income increased by 119% year-on-year

The crypto-friendly bank Silvergate submitted its financial report data for the second quarter of this year to U.S. regulators. The Silvergate transaction network (SEN), located in the digital currency platform business, grew significantly in the second quarter. The number of transactions and transaction volume increased by 28% and 29% year-on-year. Currency fee income increased by 119% year-on-year to US$2.4 million, and it also increased by 41% month-on-month. Chain Wen Note: In addition to providing traditional banking services for cryptocurrency companies, Silvergate also operates its own proprietary payment network, the Silvergate Transaction Network (SEN). SEN is the bank’s growing digital currency-related customer base (including exchanges and investors). And trading companies) provide USD transfers 24 hours a day.