Celent recognizes Silvergate as the winner of the Celent Model Bank 2020 Award for Payments Replatforming. Payments are critical to any bank, but perhaps even more so when they are responsible for organizations who in turn manage other peoples money. Silvergate is the bank for many of the cryptocurrency exchanges in the US, and when Bitcoin values and volumes grew massively in 2017, they experienced an explosion in wire volumes and values. Having outgrown their existing solution, Silvergate have chosen a cloud based payment services to futureproof their needs and have added more functionality as a result.
