Greengage Global Holding Ltd, a UK registered firm, which intends to serve as the very first digital merchant bank through its wholly owned Gibraltar subsidiary, Greengage & Co. Ltd, reveals that it has acquired another institutional investment, along with its £2.5 million investment from IOVLabs.
At present, Greengage & Co. Ltd is working on obtaining its regulatory approval with the Gibraltar Financial Services Commission (GFSC) in order to acquire a Gibraltar banking permit.
Blockchain and Open Finance venture builder, Coinsilium Group Ltd has reportedly invested £200,000 in convertible notes and has also acquired a £300,000 equity in a secondary stake sale at a £27.3 million valuation for Greengage’s business.
The deal has been carried out through Coinsilium’s wholly owned Gibraltar registered subsidiary, Seedcoin Ltd.
Sean Kierman, CEO at Greengage, stated:
“We are thrilled to have a further Gibraltar-based institution investing in Greengage. Our expansion demonstrates the growth of the jurisdiction as a thriving crypto-hub and a great place to invest, do business and grow. We look forward to exploring together the development of a suite of regulatory-compliant decentralised finance (DeFi) solutions”.
Greengage will also be looking into a research project that focuses on decentralized finance (DeFi) but in a regulatory compliant manner.
The firm is reportedly considering working cooperatively with a consortium of industry professionals in order to establish a set of standards for regulated DeFi solutions.
Although Greengage doesn’t have an active direct involvement in DeFi platforms at this time, it is keen to look into the potential benefits offered by this nascent space as the market continues to evolve rapidly.
After the completion of this deal, it’s the stated mission of both organizations to look into potential relationships with the goal of seeking opportunities to offer innovative products that are compliant.
Malcolm Palle, Executive Chair at Coinsilium, remarked:
“We are delighted to support Greengage in its mission to expand banking and lending opportunities to cryptocurrency and crypto-asset companies, and more broadly SMEs. Our investment in the business provides us with an opportunity to access best-in-class industry experts who are pioneering the future of digital assets”.