Silvergate Capital (SI) is no longer on pace to launch its own stablecoin this year, while CEO Alan Lane stated on Tuesday that the company is still working closely with regulators on the issue. The delay is not due to any technology concerns with the initiative, according to Lane, who feels Silvergate is in a strong position to introduce its own tokenized dollar to the blockchain in comparison to other banks. Silvergate shares plunged more than 20% on Tuesday after the company reported earnings miss that included a slowdown in USD transfers and digital deposits, as well as the stablecoin delay.
