Web3 investor Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) has today published an update of its investment in portfolio company Greengage, which was completed via Coinsilium’s Gibraltar-based subsidiary Seedcoin in September 2021.
Greengage’s e-money account services are now set to go live in January 2023 following a successful audit conducted by Modulr.
Pound and euro payments with sort codes, IBANs and Visa cards for friends and family accounts will be available on the platform.
In the past year, Greengage has generated £1mln in revenues across software-as-a-service and platform business lines, and a healthy client onboarding pipeline is expected in the new year.
Additionally, Greengage stressed that it had zero exposure to the FTX crypto exchange collapse.
On the update, Coinsilium chief executive Eddy Travia commented: “We are delighted to note the solid progress Greengage has reported in its most recent shareholder update.
“Greengage aims to become a next-generation digital merchant bank and today’s news of the imminent launch of its e-money account services can be seen as a major milestone on that journey.”