Greengage bank seeks Gibraltar licence to serve SMEs and crypto firms
A new lender is seeking a licence in Gibraltar with plans to become the overseas territory’s first digital merchant bank.
Greengage says it will focus on two underserved business segments in UK small businesses and cryptocurrency firms.
It plans to facilitate lending against cryptocurrency via introductions on a business-to-business basis. It also aims to offer “classic banking products and services across both traditional fiat currencies and cryptocurrencies”.
Founded in 2018, Greengage is in the midst of a regulatory approval process with the Gibraltar Financial Services Commission (GFSC) to receive a Gibraltar banking licence.
The prospective bank has also signed a partnership with fintech firm mAI for the analysis and connecting of “millions of real-time data points”.
Greengage says an ability to map the extent of the existing crypto-asset company ecosystem will let it better understand existing funding gaps.