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Diem parters with Silvergate bank to launch stablecoin in the US

Published 05/13/2021, 03:26 AM
Updated 05/13/2021, 05:00 AM
Diem parters with Silvergate bank to launch stablecoin in the US

Facebook-backed digital currency project, the Diem Association, has partnered with cryptocurrency-friendly bank Silvergate to launch a stablecoin pegged to the United States dollar.

Diem announced Wednesday a new model of its upcoming stablecoin, relocating its main operations from Switzerland to the United States and withdrawing its application for a payment system license from the Swiss Financial Markets Authority.

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