Digital asset banking innovator Greengage receives £2.5m institutional investment from IOVlabs Fund

London and Gibraltar, 9th August 2021

Announces strategic partnership to create socially responsible and financially inclusive solutions enabled by RSK Blockchain and RSK Infrastructure Framework (RIF)

Greengage, which plans to become the first digital asset merchant bank, today announced the addition of its first institutional investment receiving a commitment of £2.5 million from Gibraltar-based portfolio firm, IOVLabs. This latest investment will support Greengage’s ongoing expansion, technology developments and team growth, including the hire of a new CFO, Head of Operations, Head of Compliance and Money Laundering Reporting Officer.

As a long-standing investor and builder in digital finance, IOVLabs is an ideal partner for fellow Gibraltar-based firm Greengage. IOVlabs’ vision of building a safe and equitable global financial system that enables everyone to participate and prosper chimes closely with Greengage’s own mission, including its goal to support the expansion of B2B lending to underserved markets such as SMEs. Greengage will be supporting RSK Blockchain’s, smart contract platform and the RSK Infrastructure Framework (RIF), which provides the building blocks for a fully decentralised economy.

Commenting on the investment, Greengage CEO, Sean Kiernan said: “IOVlabs have long been recognised 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.” He continued “ 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.”

Diego Gutierrez Zaldivar, IOVlabs CEO said: “We are delighted to partner with Greengage and join them in making a key contribution to build 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 cryptoasset markets.

Greengage is currently engaged in the regulatory approval process with the GFSC to receive a Gibraltar banking licence.

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.

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About IOVLabs

IOVlabs develops the blockchain technologies needed for a new global financial ecosystem that fosters opportunity, transparency, and trust. The organization currently develops the RSK Smart Contract Network, RSK Infrastructure Framework (RIF) and Taringa!’s platforms. The RSK Network is one of the most secure smart contract platforms in the world, designed to leverage Bitcoin’s unparalleled hash power while extending its capabilities. RSK Infrastructure Framework (RIF) is a suite of open and decentralized infrastructure protocols that enable faster, easier and scalable development of distributed applications (dApps) within a unified environment. Taringa! is Latin America's largest Spanish speaking social network with 30 million users and 1,000 active online communities..

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