# The Diem Association

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/the-diem-association

- Industry: Financial Services
- Headquarters: Geneva, Switzerland
- Website: www.diem.com
- Latest round: Seed (Mar 20, 2020)
- Investors on record: 1

## About

Founded in 2019, and based in Geneva, Switzerland, The Diem Association operates as an independent, not-for-profit membership organization that supports financial inclusion. In March 2020, The Diem Association raised an undisclosed amount of seed funding from new investor Paradigm, and in March 2022, Silvergate Capital Corp. acquired The Diem Association and its blockchain-based payment network assets for USD 182 million. As of 2022, the company is led by its CEO, Stuart Levey.

Diem develops a blockchain-based mobile payment system network that allows users to spend and send money internationally without delay with its financial services such as online wallets and smart contracts,

Following the acquisition, the company expects to incur approximately USD 30 million of additional costs in 2022.

## Funding rounds

- Seed, Mar 20, 2020 — Paradigm

## Investors

- Paradigm (https://capitalatlas.ai/funds/paradigm) — Seed