Rebecca Rettig, Aave’s general counsel, announced her nomination to the board of directors of Silvergate Bank and its publicly traded parent firm, Silvergate Capital, on her Twitter page earlier today.
Why Rebecca Rettig was nominated to the Silvergate Bank’s board
“Rebecca’s broad wealth of knowledge in the blockchain and digital currency space make her a valuable addition to our board,” said Silvergate President and CEO Alan Lane. “Her experience will support us as we continue to provide innovative solutions to the rapidly growing digital currency industry.”
Rettig expressed interest in serving as a possible bridge between DeFi and traditional finance when speaking with reporters. “I think there will be lots of opportunities for Silvergate as a partner and a collaborator, as we from the Web 3 side, and they from the banking side, continue to bring crypto to institutions and traditional financial actors,” she said.
Rebecca Rettig’s mandate for her new role
Aave Companies, based in London, is bringing institutional investors into the Web 3.0 space through Aave Arc, a DeFi liquidity pool for financial institutions, according to Rettig. Users can trade crypto on DeFi platforms without a central intermediary thanks to liquidity pools, which are crowdsourced pools of cryptocurrency or tokens.
According to Rettig, Silvergate provides financial infrastructure products and services to the digital asset market, with Silvergate Bank serving as the primary banking partner for most crypto firms.
Rettig was a partner in the financial services practice at Manatt, Phelps & Phillips in Los Angeles before joining Aave last year, where he represented blockchain and digital currency clients.