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Coinsilium Group Limited (COIN)
COINSILIUM GROUP LIMITED ("Coinsilium" or the "Company")
Coinsilium Group Limited: Strategic Investment in Greengage Complete
London, UK, 8 September 2021 - Coinsilium Group Limited (AQSE:COIN) (OTCQB:CINGF), the Blockchain and Open Finance venture builder is pleased to report that, further to its announcement on 20 August 2021, the Company has now completed the proposed transaction (the "Transaction") with Greengage Global Holding Ltd ("Greengage"), a UK registered company which plans to become the first merchant bank for the digital finance sector via its wholly owned Gibraltar subsidiary Greengage & Co. Ltd. Greengage & Co. Ltd is currently engaged in the regulatory approval process with the Gibraltar Financial Services Commission ("GFSC") to receive a Gibraltar banking licence.
The Transaction with Greengage was conducted via Coinsilium's wholly owned Gibraltar registered subsidiary, Seedcoin Limited ("Seedcoin"), whereby Seedcoin has invested GBP200,000 in convertible notes and has also taken GBP300,000 equity in a secondary stake sale that values Greengage at GBP27.3m.
It is the intention of Greengage and Coinsilium to work closely together to explore opportunities to develop regulatory compliant Decentralised Finance (De-Fi) commercial products and solutions. With the Transaction now complete, both Coinsilium and Greengage intend to explore entering into strategic relationships with the objective of pursuing opportunities and research projects to develop new services and products aligned with regulatory compliant decentralised Finance (De-Fi) solutions.
Coinsilium Executive Chairman, Malcolm Palle, commented:
"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 to cryptocurrency and crypto-asset companies, and more broadly SMEs.
"The investment is also expected to lead to a close working relationship between both companies in Gibraltar as we seek to jointly explore potential solutions which aim to address some of the regulatory hurdles currently challenging broader DeFi adoption. Greengage's track record and ambitions within regulated markets, combined with Coinsilium's commercial and industry skills, positions us well for this endeavour and we are most excited by the opportunity."
Greengage CEO, Sean Kiernan, added:
"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".
The Directors of Coinsilium Group Limited take responsibility for this announcement.
Notes to Editor
About Coinsilium
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. The Company 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 NFT arena and also within Open Finance.
Coinsilium has developed an array of commercial partnerships and joint ventures around the world to support its development capabilities, giving it access to best-in-class tech experts, a strong network, and a 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, a Non-Fungible Token ('NFT') technology development studio in Gibraltar.
Coinsilium shares are traded on the APEX segment of the AQSE Growth Market in London, under the ticker symbol "COIN", and on OTCQB Venture Market ("OTCQB") in the United States under the ticker symbol "CINGF".
About Greengage
Greengage is the first fully integrated financial services group bridging traditional fiat currency banking and trading with the emerging digital asset and cryptocurrency sector. It plans to become the first merchant bank for the digital finance sector, with its mission to be the premier, trusted and secure platform, providing access to the traditional, digital and crypto economy
For more information visit: https://www.greengage.co
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| ISIN: | VGG225641015 |
| Category Code: | MSCM |
| TIDM: | COIN |
| Sequence No.: | 121672 |
| EQS News ID: | 1231844 |
| End of Announcement | EQS News Service |