Facebook-backed Diem moves to U.S., taps Silvergate as issuer
Facebook Inc (NASDAQ:FB)’s cryptocurrency has withdrawn its application for a payment license. The Facebook-backed Diem Association, which oversees the Diem cryptocurrency, is moving its operations to the U.S. Diem’s U.S. subsidiary has entered into a partnership with Silvergate Capital to issue its token. Q1 2021 hedge fund letters, conferences and more Facebook's Diem moves to the U.S.According to CNBC, Diem had been attempting to secure a payment system license with Switzerland's FINMA. However, the firm has decided to stop seeking regulatory approval in the country and instead partnered wi...