Building the Future of Finance
Becoming the Next Generation Merchant Bank
Greengage will be the next generation of merchant bank, taking deposits from and making loans to small and medium-sized enterprises (SMEs) and with a focus on banking cryptoasset companies.
Greengage is currently in the pre-application process of applying to the UK regulators as well as in the application process with Gibraltar regulators to obtain full banking licences.. This should allow us, once approved, to provide a full suite of classic products and services across fiat currencies (£, €, $) and cryptoasset classes.
Merchant Banking for the 21st Century
Greengage intends to serve two significant underserved client sectors:
Cryptoasset companies: Cryptoasset companies struggle to find access to mainstream banking services. The estimated size of fiat deposits in the cryptoasset sector is $30 - $40 billion with no banks in the UK and Gibraltar actively supporting this sector.
UK SME market: There are 5.9 million SMEs in the UK with ~£2.5 trillion annual turnover. Yet there is a £22 billion funding gap for SMEs in the UK.
Upon receipt of the appropriate regulatory approvals, Greengage will initially focus on offering fiat deposit accounts to largely unbanked cryptoasset companies. Quickly thereafter, Greengage will expand its services by providing fiat loans to underserved UK and Gibraltar SMEs. In the long-term, Greengage intends to expand its product offering to include the structuring of digital products such as digital debt and equity.
It is Greengage's mission to deliver merchant banking services to cryptoasset companies and UK and Gibraltar SMEs – providing a robust digital banking platform using advanced technologies, facilitating cost-effective transactions within and across traditional currency and cryptoassets, by adhering to highest established standards of compliance and security.
Greengage is setting up a robust digital platform built from well-known and tested technologies. Greengage aims to be an enabler for supporting cryptoasset companies and SME banking needs, and to partner with existing technology providers to ensure a robust and dynamic platform built for service excellence.