- Greengage received a commitment of £2.5 million from IOVLabs.
- The company is supporting RSK Blockchain’s smart contract platform and the RSK Infrastructure Framework (RIF).
- Greengage is currently engaged in the regulatory approval process with GFSC.
On Thursday, the Gibraltar-based financial services group bridging traditional fiat and crypto trading — Greengage announced the addition of its first institutional investment IOVLabs. Through this, Greengage received a commitment of £2.5 million ($3.4 million) from its co Gibraltar-based portfolio firm, IOVLabs.
Greengage is reportedly supporting RSK Blockchain’s smart contract platform and the RSK Infrastructure Framework (RIF). Of note, they are currently engaged in the regulatory approval process with the Gibraltar Financial Services Commission (GFSC) to receive a banking license.
CEO of Greengage, Sean Kiernan shared his excitement regarding the investment.
We are excited to have an institutional investor of this calibre and to explore together the future possibilities of cryptocurrencies, digital identity and clean, decentralised 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.
Meanwhile, IOVLabs CEO Diego Gutierrez Zaldivar shares that the whole IOVLabs are equally excited to be part of Greengage’s robust digital banking platform. He emphasized Greengage is using ‘advanced technology to facilitate cost-effective transactions for underserved SMEs within both traditional currency and crypto market.’
According to Greengage, this latest investment will surely support their ongoing expansion, technology developments, and team growth. Without a doubt, IOVLabs is an ideal partner for the Greengage as they are a long-standing investor and builder in digital finance.
In fact, IOVLab’s vision of building a safe and equitable global financial system fits perfectly with Greengage’s own mission. Whereas, they aim to support the expansion of B2B lending to underserved markets such as SMEs.
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