Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF) said that Greengage Global Holding, one of its portfolio companies, is partnering with Coinbase, the cryptocurrency exchange in a partnership that aims to help small and medium-sized businesses (SMEs) get easier access to funding using blockchain technology.
The partnership will use Coinbase's Diamond Protocol to streamline the process of issuing and managing loans.
By using blockchain, the process will be more secure and open, making it easier for more people to invest in these loans. This collaboration promises to make financing more efficient and transparent for small businesses.
Greengage CEO Sean Keirnan said: "We are thrilled to partner with Coinbase on this groundbreaking initiative.
"By originating SME debt on the Coinbase Diamond protocol, we are not only enhancing our ability to support small and medium enterprises but also pioneering new financial innovations that will drive growth and sustainability in this critical sector."
Coinsilium owns 27,133 Greengage A Shares and 8,370 warrants valued on the former's balance sheet at £652,537.
The latest update comes at the end of a busy news week for Coinsilium, which inked a partnership with Liteflow, an experienced Web3 and NFT technical developer, and signed a Simple Agreement for Future Tokens (SAFT) with the Otomato Web3 Automation Protocol.