Silvergate's acquisition of the assets of Meta's Diem gives it an advantage over other stablecoin issuers, analysts said By willcanny99
Silvergate Capital's planned stablecoin could benefit from the distribution and potential partnerships with Diem Association members and other money service providers, Wedbush analysts said in a note following news of the crypto firm's deal to buy assets of Meta's Diem.
”The purchase price represents good value for Silvergate given the sophisticated technology that is being acquired, and the acquisition should accelerate the launch of its stablecoin," the report said. The deal allows Silvergate to control the technology and build a payment network with greater revenue upside, B.Riley said.
The acquisition could also give the crypto bank an advantage over other stablecoin issuers as it will be issued in a"regulatory friendly way" and can be integrated with the Silvergate Exchange Network .
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