Silvergate, a provider of innovative financial infrastructure solutions and services, agreed to acquire the blockchain payment network assets from Diem for $182m. “In the digital asset industry, money moves across the globe around the clock. Through conversations with our customers, we identified a need for a US dollar-backed stablecoin that is regulated and highly scalable to further enable them to move money without barriers. As previously stated on our Q4 2021 earnings call, it remains our intention to satisfy that need by launching a stablecoin in 2022, enabled by the assets we acquired today and our existing technology," Alan Lane, Silvergate CEO.