Companies will seek to explore regulated decentralized finance opportunities.
Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) has reached its agreement to invest in Greengage Global Holding Ltd, which aims to become the leading merchant bank in the digital finance sector.
Through subsidiary Seedcoin, Coinsilium invested £200,000 via convertible notes and acquired £300,000 of Greengage shares, with the equity deal valuing the issuing entity at £27.3 million.
Together, the companies intend to explore opportunities to develop regulatory-compliant decentralized finance (De-Fi) products and business solutions. Greengage is meanwhile engaged in the regulatory approval process for a banking license in Gibraltar.
“We are delighted to announce this strategic investment in Greengage, which strengthens Coinsilium’s position in the digital markets space and supports Greengage in its mission to expand banking and lending opportunities for cryptocurrency and crypto companies. -assets, and more broadly to SMEs,” said the manager. President Malcolm Palle.
“The investment should also lead to a close working relationship between the two companies in Gibraltar as we seek to jointly explore potential solutions to address some of the regulatory hurdles currently hampering wider adoption of DeFi.
“Greengage’s track record and ambitions within regulated markets, combined with Coinsilium’s business and industry skills, positions us well for this venture and we are very excited about this opportunity.”
Greengage Chief Executive Sean Kiernan added: “We are delighted that another Gibraltar-based institution is investing in Greengage.
“Our expansion demonstrates the jurisdiction’s growth as a thriving crypto-hub and a great place to invest, do business and grow. We look forward to exploring the development of a suite of regulatory-compliant decentralized finance (DeFi) solutions together.”