Silvergate's Alan Lane on Banking the Corporate Unbanked

Mr Obnoxious - A podcast by Peter McCormack

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Location: San Diego
Date: Tuesday, 16th July
Company: Silvergate Bank
Role: CEO

Since Satoshi’s left the message, "Chancellor on brink of second bailout for banks" in the genesis block, Bitcoin has been the antithesis of banks. “Be your own bank”, perhaps an overused phrase from Bitcoin proponents certainly comes under question for companies building Bitcoin-based businesses. Businesses need Fiat for operating costs: rent, wages etc. and for now, at least that is a gap that Bitcoin can't fill.

Most banks have also looked at Bitcoin unfavourably, and crypto companies have struggled to find reliable banking partners. Many companies and exchanges have unexpectedly lost banking services or turned to creative solutions.

Silvergate Bank, however, looks at Bitcoin and cryptocurrency differently. Since 2014 they have been building their reputation as the leading bank for cryptocurrency companies and now have over $1 billion in deposits. In this interview, I talk to Alan Lane, Silvergate's Chief Executive Officer and find out how they have been paving the way for cryptocurrency companies and are how they are offering banking services previously unheard of in the traditional industry.

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Connect with Alan:
- On Twitter @silvergateceo
- On LinkedIn
- On Crunchbase

Connect with Silvergate Bank:
- On Twitter @silvergatebank
- On LinkedIn
- On Crunchbase
- Their Website

Mentioned in the interview:
- Financial Crisis of 2007-2008
- KYC Laws
- AML Laws
- Silk Road
- Facebook’s David Marcus In Front of Senate
- SecondMarket
- Silvergate Exchange Network (SEN)

Other relevant WBD podcasts:
- WBD122: Brad Stephens & Spencer Bogart on How Venture Capital Thinks About Bitcoin Investing
- WBD120: Brian Quintenz on How the CFTC Regulates Cryptocurrencies
- WBD118: Caitlin Long on Why Facebook’s Libra Coin is Good for Bitcoin
- WBD112: Phil Potter on Bitfinex and Tether
- WBD087: Erik Voorhees on Maximalism, KYC & Shoddy Reporting
- WBD076: Mark Karpelès on the Collapse of Mt. Gox
- WBD073: Bill Barhydt on How ABRA Is Building a Global Bank With Bitcoin
- WBD051: Zac Prince on the Future of Banking With Bitcoin
- WBD050: The SEC's Hester Peirce on Regulating Cryptocurrencies
- WBD048: Jesse Powell is Building a Culture of Crypto Values at Kraken
- WBD022: Erik Voorhees on Shapeshift User Accounts and the Problem with ICOs

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