Greengage receives 2nd institutional investment from Coinsilium
London, 8 September 2021:Greengage today announced that it has received a second institutional investment, in addition to its recent £2.5m investment from IOVLabs.
Acquis-listed Blockchain and Open Finance venture builder, Coinsilium Group Limited ("Coinsilium") has invested £200K in convertible notes and taken £300k equity in a secondary stake sale at a £27.3m valuation for Greengage’s business. The transaction has been conducted via Coinsilium’s wholly owned Gibraltar registered subsidiary, Seedcoin Limited ("Seedcoin").
Commenting on the agreement, Greengage CEO, Sean Kiernan said: “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 is also exploring engagement in a research project looking at opportunities surrounding DeFi within a regulatory perimeter. It is looking into working with a consortium of industry participants to develop a set of proposed standards for regulated DeFi participants. While Greengage does not have any active direct involvement in DeFi products at present it is interested in exploring the potential offered by this space as the market matures. Upon completion of the Transaction, it is the vision of both parties to explore entering into strategic relationships with the objective of pursuing opportunities to develop new services and products aligned with regulatory compliant decentralised Finance (De-Fi) solutions.
Malcolm Palle, Executive Chairman of Coinsilium, said: “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”.
Coinsilium is a focused Blockchain and Open Finance venture operator based in Gibraltar, a pre-eminent global regulatory jurisdiction and a leading hub for innovative financial technology. In 2015, Coinsilium became the first blockchain company to IPO. Coinsilium has evolved to develop revenue-generating strategic advisory services and is a highly regarded innovator with proven technological and commercial expertise and development capabilities in the Non-Fungible Token ("NFT") arena and also within Open Finance.
Coinsilium has developed an array of commercial partnerships around the world to support its development capabilities, giving it access to best-in-class tech experts, a strong network, and asserting its profound industry profile. It has a 50:50 venture with IOV Labs in Singapore, enabling the promotion and commercialisation of RSK's products, services and technologies in global markets; and has partnered with blockchain technology experts Indorse to create Nifty Labs, an NFT technology development studio in Gibraltar.
For more information visit: https://coinsilium.com.
Greengage is the first fully integrated financial services group bridging the traditional financial services space with the new digital innovations in cryptoassets and blockchain. Greengage aspires to 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. Should a full banking licence be secured this will allow us to provide a full suite of classic products and services across fiat currencies (£, €, $) and cryptoasset classes.
For more information visit: https://www.greengage.co.