Share this article
Canadian Investor GreenBank Capital Launches Bitcoin-related Subsidiaries
GreenBank Capital has launched two new subsidiaries which will invest in bitcoin startups and cryptocurrency in general.
Updated Sep 10, 2021, 12:04 p.m. Published Dec 17, 2013, 12:45 p.m.
Make us preferred on Google
Canada’s GreenBank Capital has launched two new subsidiaries to invest in bitcoin startups and cryptocurrency in general.
The investment firm claims to be the first public company with a presence in bitcoin, thanks to its new subsidiaries: Bitcoin Canada Investments Inc and Bitcoin Angel Capital.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin Canada will invest exclusively in bitcoin, while Bitcoin Angel will invest in early-stage projects in bitcoin as well as other cryptocurrencies. GreenBank plans to spin-off both companies at a later date, listing their shares publicly on the Canadian Stock Exchange.
GreenBank will maintain a hands-on approach, managing the bitcoin investment portfolio in both subsidiaries for a 10% fee of portfolio appreciation. The company said in a statement:
“GreenBank intends to make a private placement to accredited investors of up to $5,000,000 Debentures with conversion rights into 90% of the common shares of Bitcoin Canada and Bitcoin Angel.”
GreenBank hopes the move will allow investors to gain more exposure to bitcoin and other cryptocurrencies. Danny Wettreich, CEO of GreenBank, Bitcoin Canada and Bitcoin Angel, said:
"Bitcoin is a digital cryptocurrency that is not issued by any government, bank or central organization. During 2013, the market price of bitcoin has increased dramatically, and increasing acceptance and popularity will make it a viable alternative to fiat currencies." He added:
"I believe that Bitcoin is in the early stages of becoming a revolutionary payment medium, and GreenBank intends to be actively involved as a bitcoin incubator and investor."
GreenBank has a long tradition of focusing on investments in Canadian small cap companies. It also facilitates the listing of private companies on the Canadian Stock Exchange, arranges acquisitions and mergers, and invests in equity.
Toronto Skyline image via Shutterstock
More For You
'We do not do illegal things': Inside a U.S.-sanctioned stablecoin issuer's race to build a crypto giant
Oleg Ogienko, the public face of A7A5, pitched the ruble-pegged stablecoin as a fast-growing trade rail built to move money across borders despite sanctions pressure.
What to know:
- Oleg Ogienko, the public face of ruble-denominated stablecoin issuer A7A5, insists the firm complies fully with Kyrgyz regulations and international anti-money-laundering standards despite extensive U.S. sanctions on its affiliates.
- A7A5, whose issuing entities and reserve bank are sanctioned by the U.S. Treasury, has grown faster than USDT and USDC and aims to handle more than 20 percent of Russia’s trade settlements, primarily serving businesses in Asia, Africa and South America trading with Russian partners.
- Ogienko said that he and his team were developing partnerships with blockchain platforms and exchanges during Consensus in Hong Kong, though declined to name specifics.
Top Stories
