Rebecca Rettig, general counsel for decentralised finance (DeFi) platform Aave, has been named to the boards of Silvergate Bank and Silvergate Capital, Silvergate Bank’s publicly listed parent company.
“Rebecca’s extensive expertise in blockchain and digital currency makes her a welcome addition to our board,” stated Silvergate President and CEO Alan Lane.
Rettig, the Aave general counsel, expressed interest in the two firms collaborating with CoinDesk. “I believe Silvergate will have many chances as a partner and collaborator as we, from Web 3, and they, from the banking side, continue to deliver crypto to institutions and conventional financial players,” she added.
She said that Aave, a Swiss-based DeFi lending platform, is attracting institutional investors into the Web 3 sector via Aave Arc, a DeFi liquidity pool for financial institutions.
Liquidity pools are crowdsourced pools of cryptocurrencies or tokens that enable users to trade cryptocurrency on DeFi platforms without the involvement of a central actor.
According to Rettig, Silvergate offers financial infrastructure goods and services to the digital asset market, with its subsidiary Silvergate Bank serving as the primary banking partner for the majority of crypto firms.
Prior to joining Aave last year, Rettig worked as a partner in the financial services practise at the Los Angeles-based legal firm Manatt, Phelps & Phillips, where she represented blockchain and digital currency clients.