Silvergate Announces Addition of Jonathan Melton as Director of Digital Asset Lending
Silvergate Capital Corporation (NYSE:SI) announced the appointment of Jonathan Melton as director of digital asset lending. He will oversee the expansion of the SEN Leverage product, which allows customers to secure USD loans backed by bitcoin via the Silvergate Exchange Network. Melton previously held a key role at Xapo and has extensive experience from Morgan Stanley. The company emphasizes its commitment to enhancing capital efficiency for customers in the digital currency market.
- Appointment of Jonathan Melton as director of digital asset lending to enhance SEN Leverage product.
- SEN Leverage allows for USD loans collateralized by bitcoin, providing 24/7 access to capital.
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LA JOLLA, Calif.--(BUSINESS WIRE)--Silvergate Capital Corporation (“Silvergate” or the “Company”) (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital currency industry, announced today that Jonathan Melton joined its team as director of digital asset lending. In this role, Jonathan will lead the expansion of the Company’s SEN Leverage product. SEN Leverage allows customers to obtain U.S. dollar (“USD”) loans collateralized by bitcoin using the Silvergate Exchange Network (“SEN”) to fund loans and process repayments in virtually real-time, 24 hours per day, 7 days per week, 365 days per year.
Before joining Silvergate, Jonathan was a Director in the Institutions group at Xapo, one of the largest bitcoin custodians in the world, which was acquired by Coinbase Custody in 2019. Jonathan successfully expanded Xapo’s presence with many of the largest endowments, hedge funds and family offices in the U.S. Before and after his time at Xapo, Jonathan was employed by Morgan Stanley for a total of 13 years. In his roles at Morgan Stanley, Jonathan distributed a diverse foreign exchange product suite to domestic and international clients and led the retail currency platform through a period of substantial growth.
“We are hyper-focused on developing products that reduce friction and maximize capital efficiency for our customers,” said Kate Fraher, chief operating officer at Silvergate. “Jonathan’s experience developing and maintaining institutional investor relationships will be invaluable as we grow SEN Leverage to address the need for 24/7 access to capital in the digital currency markets.”
“We are thrilled to welcome Jonathan to the team,” added Ben Reynolds, executive vice president of corporate development at Silvergate. "His understanding of the digital currency industry and the market we serve will be instrumental in helping us grow our digital asset lending business.”
To learn more about Silvergate, visit our website: www.silvergatebank.com.
About Silvergate
Silvergate Capital Corporation (NYSE:SI) is a registered bank holding company for Silvergate Bank, headquartered in La Jolla, California. Silvergate Bank is a commercial bank that opened in 1988 and has been profitable for 22 consecutive years. The Bank has focused its strategy on creating the banking platform for innovators, especially in the digital currency industry, and developing product and service solutions addressing the needs of entrepreneurs. As of September 30, 2020, Silvergate had total assets of
