[The closure of Silvergate trading network SEN may make traders turn to Signature and stablecoins]

According to CoinDesk, the shutdown of Silvergate Bank’s trading network SEN could see traders turn to another banking alternative, Signature Bank, or use stablecoins like Circle’s USDC or Tether’s USDT for fast transactions. Signature Bank offers a program called Signet, which launched in 2019 and uses blockchain technology for real-time settlement, allowing for instant transfers of U.S. dollars to exchanges.