LONDON, 15 November 2023: Greengage, the UK digital finance pioneer, announced today that it has signed a Memorandum of Understanding with Concordia Systems to collaborate on the joint development of digital asset and DLT technology-led opportunities to support Greengage’s business development strategy.
Concordia has developed a modular risk and collateral management protocol that unifies and enables multi-chain collateralization of digital assets. Based on a single margining account, the Concordia protocol streamlines collateral management and resolves collateral fragmentation across multiple DLT chains, optimising risk across an entire [digital asset] portfolio.
Greengage and Concordia will collaborate on potential business opportunities as well as considerations to leverage Concordia’s software development expertise and ‘next gen’ digital asset risk management solutions within Greengage’s service platform and network, giving its clients the opportunity to utilise a highly efficient digital assets collateral and liquidation management solution.
Greengage CEO Sean Kiernan said: “We are excited to be working with Concordia and to explore ideas and opportunities that leverage our respective expertise in traditional and digital finance, and digital assets and technologies, to further enhance our “crypto friendly” e-money business accounts and lending platform”.
Uri Ferruccio, CEO of Concordia said: “We hope that the combination of Concordia’s extensive experience and expertise in emerging digital-first sectors, and Greengage’s financial services offering and market knowledge will form the basis of strong foundations for a long and mutually-beneficial relationship.”
In June 2023 Greengage announced that it had raised new capital in a fresh funding round. Investors include digital technology leaders IOV Labs, the first ever Bitcoin sidechain creating “everyday DeFi solutions” and principal investors, Coinsilium Group, the Web3 investor, advisor, and venture builder.
About GreengageGreengage is a digital finance pioneer, that provides a platform of relationship-based e-money account services to SMEs, high net worth individuals, and digital asset firms to the highest ethical, secure and compliance standards. Alongside our account services, we provide clients access to a B2B lending platform offering digital sources of money. Our tailored services are delivered by people, empowered by technology. For more information visit:
https://www.greengage.co
About Concordia
Concordia has developed a financial operating system that unifies and maximises the utility of all digital assets into a seamlessly interconnected financial system. The introduction of a Universal Omni-Chain Account simplifies the user experience, transparently enhances capital efficiency, and provides a unified account for managing all digital assets. Concordia streamlines collateral management and resolves collateral fragmentation across multiple DLT chains, optimising risk across an entire [digital asset] portfolio. Concordia’s infrastructure eliminates the barriers between crypto and traditional finance for all digital assets by adopting a regulatory-first approach while remaining modular and dynamic. For more information visit: https://www.concordia.systems
Disclaimer: *E-money solutions are provided as a distributor of Modulr FS Limited, Greengage is not regulated by the Financial Conduct Authority. The Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) do not apply to the activities carried on by Greengage.
