RATE Group | Bitstamp Crypto Exchange to Pilot Leverage Trading via Bank Partnership
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Bitstamp Crypto Exchange to Pilot Leverage Trading via Bank Partnership

15 Jan Bitstamp Crypto Exchange to Pilot Leverage Trading via Bank Partnership

Posted at 12:51h in Cryptocurrency News by

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The twelfth-largest cryptocurrency exchange, Bitstamp, partnered with cryptocurrency-friendly Silvergate Bank to pilot Bitcoin (BTC) leveraged trading.

According to an announcement on Jan. 14, the exchange will serve as the launch partner for the bank’s Silvergate Exchange Network (SEN) Leverage service.

During the pilot stage, the exchange will only offer leveraged trading to select institutional customers. The only collateral currently supported by the service is Bitcoin, which will be custodied by Bitstamp as Silvergate Bank’s first exchange partner.

 

Silvergate, the crypto bank

Silvergate Bank’s friendliness towards cryptocurrency businesses is seemingly paying off as it has penned partnerships with major cryptocurrency firms.

In late August, Gemini, the cryptocurrency exchange founded by the Winklevoss twins, announced that it joined Silvergate’s SEN network to offer 24/7 fiat transfers.

According to a filing with the U.S. Securities and Exchange Commission in March 2019,…

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