Silvergate Bank: Q4'19 digital currency related customers grow 6%

According to The Block, the crypto-friendly bank Silvergate Bank reported 4Q19 earnings. The quarter ’s digital currency-related customer base grew by 6%, but deposits fell by 4%, mainly due to its institutional investment. Those who fell were 15%. The transaction volume of payment platform SEN dropped 8% month-on-month to $ 9.6 billion. Key areas of focus for management include continuing to expand its customer base, increasing SEN-related fee income, and expanding its unique product range to digital currency-related customers.