Greengage Gets £2.5 million in Capital From IOVLabs
Greengage, a contender to be the first digital asset merchant bank, just moved forward by attracting £2.5 million from IOVLabs, a Gibraltar-based company.
The company plans to use this new funds for expanding operations, developing technology, as well as its team by hiring a new CFO, Head of Operations, Head of Compliance, and Money Laundering Reporting Officer.
Not only does it provide cash, but this is also a strategic partnership. IOVLabs, an experienced investor and builder in digital finance, and an ideal partner for Greengage.
IOVlabs is developing a safe and equitable global financial system allowing everyone to participate.
Its goals are also similar to Greengage’s own vision, including supporting the expansion of the B2B lending program to underserved markets such as medium and small enterprises.
The partnership is to create solutions involved in society and finance. As a result, Greengage will be supporting both RSK Blockchain’s smart contract platform and the RSK Infrastructure Framework (RIF), which are infrastructures for a fully decentralized economy.
Currently, Greengage is working with the GFSC for regulatory approval of a Gibraltar banking license.
“We are delighted to partner with Greengage and join them in making a key contribution to building a more equitable and decentralized financial system. We are excited to be part of the growth of their robust digital banking platform, which uses advanced technologies to facilitate cost-effective transactions for underserved SMEs within both traditional currency and crypto-asset markets,” Diego Gutierrez Zaldivar, CEO at IOVlabs said.
Greengage is Well Placed to Grow
Founded in 2018, Greengage is the first integrated financial service in the world, created to connect traditional fiat currency banking and trading to emerging digital assets and cryptocurrency.
“IOVlabs have long been recognized in Gibraltar – and globally – as one of the top pioneers in the digital finance world. Their team combines deep technology expertise with a vision to build an internet of value which provides greater financial freedom and is open to everyone,” Sean Kiernan, CEO at Greengage commented, “We are excited to have an institutional investor of this calibre and to explore together the future possibilities of cryptocurrencies, digital identity, and clean, decentralized finance developed on top of the world-leading RSK blockchain and RSK Infrastructure Framework platforms. We look forward to building on this investment to bring innovative new financial services solutions to the market.”
The company introduced a crypto lending program by teaming up with several partners in the traditional financial services space to offer Business to Business “B2B” lending against crypto-asset exchange tokens.
The Gibraltar-based firm is set to become the first merchant bank for the digital finance industry as the premier, trusted, and secure platform, supporting access to the traditional, digital and crypto economy.
The company has marked a record to deliver innovation in financial services within a regulatory environment. In 2017, the company was the first jurisdiction in the world to launch bespoke legislation around Distributed Ledger Technology (“DLT”).
A Solid Investment by IOVLabs
IOVlabs group is studying blockchain technologies for a global financial ecosystem aiming to bring more opportunity, transparency, and trust.
The products in the list are the RSK Smart Contract Network, RSK Infrastructure Framework (RIF), and Taringa!’s platforms.
The RSK network is the safest smart contract platform in the world among others. Not only was it designed to take advantage of Bitcoin’s unparalleled hash power but also to extend its capabilities.
RSK Infrastructure Framework (RIF) is an open and decentralized infrastructure protocol that supports the development of distributed applications (dApps) faster and easier, as well as can be expanded in a unified environment.
Taringa! Is the largest Spanish-speaking social network across Latin America, appealing to 30 million users and owning 1,000 active online communities.