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They actually sent out an email about 2 hours ago: Hello, Silicon Valley Bank was taken over by the FDIC [0] today, Friday March 10th. We’re monitoring the si
by kashnote 4y ago
They actually sent out an email about 2 hours ago:
Hello,
Silicon Valley Bank was taken over by the FDIC [0] today, Friday March 10th. We’re monitoring the situation closely and it saddens us to see the closure of a bank that partnered with many of you.
If you’re impacted by the SVB closure and need to open a new bank account, we are here to guide you through it.
Choosing a banking partner
- We’ve worked with startup-friendly banking partners like Mercury (mercury.com/partner/atlas) and Novo (novo.co/a/stripe-atlas) to get Stripe Atlas companies priority access to signing up.
- You can also choose to use any bank such as JP Morgan Chase, Bank of America, Wells Fargo, or PNC, and often your personal bank offers business services.
- loopdoend 4y agoNever mind
- xur17 4y agoThis implies they are: https://mercury.com/security https://mercury.com/security
- tekla 4y agoSeems like they're doing some shenanigans to be able to say that *Mercury is a financial technology company, not a bank
- darkerside 4y agoProbably just means they partner with a bank on the back end to custody your assets. It's not uncommon for neobanks.
- DesertVarnish 4y agoThey are, up to $1M with sweep IIRC.