Yinmen Bank, a well-known password corporate lender, lost five partners on March 2 because of a series of investigations and lawsuits against it.

Coinbase, Paxos, Gemini, BitStamp and Galaxy Digital are some of the most famous cryptographic companies that use Silvergate as banking partners. But the suspension of Coinbase services has also driven a cryptographic financial derivatives search to replace banking partners.

Digital currency Investment Management (DACM), an encrypted financial derivative, announced on March 3rd that it was finding a new banking partner in Germany and Switzerland amid the post-Silvergate mess. DACM uses Silvergate's real-time network to transfer money to Coinbase Global software and transfer money out of Coinbase Global channels.

In an interview with Bloomberg News, Richard Calvin, founder of DACM, said that while some foreign bank can handle encryption transactions, they are not as committed to encryption as Silvergate. He added that it was likely to take some time to find a new partner and that she was "in talks with some German and Swiss banks".

Switzerland was one of the first countries to regulate encrypted banks and give them license plates. For example, Seba Bank AG, a thoroughly regulated organization, won the license plate of banks and securities foreign exchange dealers from Germany's Swiss Financial Market Regulatory Authority in August 2019.

SilverGate is popular with cryptographic companies for its timely and real-time bank transfer service. Therefore, it may take a long time to transfer assets without any such equipment. In foreign countries, the signing bank may be the first choice for the next popular Internet financial bank for password enterprises. Coinbase has already transferred bank transfers from its core customers to Signature Bank.

Signature Bank may be the best choice for password companies, but how long will it actually last? In December 2022, signatory banks announced that they were prepared to obtain savings of up to $10 billion from users with digital currency, officially beginning a wave of large-scale withdrawal from the encrypted currency industry. The bank has long been cut off from Binance and terminated the SWIFT banking service for the password trading center.

Although password companies have been unable to find bank partners because of the lack of strict regulation in the sales market, the silver gate affair has made it more difficult to transfer cash to password trading centers.