Silicon Valley Bank (SVB) is a financial services company based in Santa Clara, California. The bank specializes in providing banking and other financial services to technology companies and venture capital firms. It offers deposit accounts, business loans, cash management services, treasury solutions and international banking services. In addition to its traditional banking products, SVB also provides venture debt financing as well as private equity investment opportunities for qualified investors.
Founded in 1983 by two Stanford Business School graduates with the goal of helping entrepreneurs who were launching high tech businesses in Silicon Valley access capital to grow their businesses, Silicon Valley Bank has since expanded its operations both nationally and internationally. As of 2020, it operates over 50 offices across the United States plus London and Shanghai outposts providing service to clients around the world.
In 2021 SVB announced that they are now offering cryptocurrency-related services such as custody solutions for digital assets held on behalf of corporate customers; agency lending options; foreign exchange transactions; trade finance transactions involving virtual currencies or tokens; merchant processing via debit cards & ACH transfers for payments made using cryptocurrencies; streaming money market funds denominated in US dollars which allow customers to earn interest on deposits consisting entirely of cryptocurrencies like Bitcoin & Ethereum ;and various blockchain-based payment networks designed specifically for enterprise grade clients looking for turnkey crypto solutions tailored to their individual needs including real-time settlement capabilities at lower cost than legacy payment rails such as SWIFT & FedWire systems .
The new cryptocurrency offerings from Silicon Valley Bank further solidify the bank’s commitment towards innovation within the FinTech space while simultaneously allowing it’s clients access cutting edge technologies which have traditionally been overlooked due to regulatory uncertainty or lack thereof . With these new offerings , SVB will continue its mission of supporting innovative companies operating within this rapidly evolving industry segment by bringing together best practices from traditional banking alongside emerging technologies like blockchain & distributed ledger systems .