Why Silvergate Capital Is My Favorite Fintech Stock

When people talk about fintech, they're usually talking about Square (NYSE: SQ) or PayPal (NASDAQ: PYPL), the two companies that have been amazing performers over the last decade. Silvergate Capital (NYSE: SI) is a much smaller player in this space but is making some really big moves. It's the first bank to move into the crypto space and has created a trading exchange for institutions that want to invest in this asset class.

And now, Silvergate is producing Meta Platform's (NASDAQ: FB) new crypto coin, a stablecoin called Diem. Silvergate is going to navigate the regulatory waters for its big-tech partner and produce the coin. It will also bank all the Facebook users who want to use the coin.

In this episode of "The 5," Taylor Carmichael explains why he owns Silvergate stock. This segment was recorded live on Oct 11.

Source Fool.com