Silvergate will have “a lot of options” to serve as a partner to those building in DeFi, according to the lawyer.
Rebecca Rettig, general counsel for Aave Companies, the team behind decentralised finance (DeFi) platform Aave, has been named to the boards of Silvergate Bank and Silvergate Capital, the bank’s publicly traded parent company (SI).
“Rebecca’s breadth of experience in the blockchain and digital currency field makes her an excellent addition to our board,” stated Alan Lane, President and CEO of Silvergate. “Her background will help us give creative solutions to the fast expanding digital currency market.”
Rettig expressed interest in serving as a possible bridge between DeFi and traditional finance in an interview with the media. “I believe Silvergate will have a lot of chances as a partner and collaborator as we continue to bring crypto to institutions and traditional financial players, as we from the Web 3 side and them from the banking side,” she said.
Aave Companies, based in London, is attracting institutional investors into the Web 3 space with Aave Arc, a DeFi liquidity pool for financial institutions, according to her. Users can trade crypto on DeFi platforms without a central intermediary thanks to liquidity pools, which are crowdsourced pools of cryptocurrency or tokens.
According to Rettig, Silvergate provides financial infrastructure products and services to the digital asset market, with Silvergate Bank serving as the primary banking partner for most crypto firms.
Rettig was a partner in the financial services practise at Manatt, Phelps & Phillips in Los Angeles before joining Aave last year, where he represented blockchain and digital currency clients.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.