Operations move from Switzerland to the US, where it partnered with Silvergate Capital on a stablecoin tied to the dollar

Diem Networks U.S. will register as a money services business with the Department of the Treasury’s Financial Crimes Enforcement Network
Diem Association

By David Cohen

31 mins ago

Diem Association, the digital payments and cryptocurrency project spearheaded by Facebook, pivoted once again, revealing a partnership between its wholly owned U.S. subsidiary, Diem Networks U.S., and Silvergate Capital, under which the latter will be the exclusive issuer of a Diem stablecoin tied to the U.S. dollar, as well as a shift in its operations from Switzerland to the U.S.