Leading cryptocurrency exchange Coinbase has joined forces with UK-based merchant banking company Greengage to improve SME debt origination through the innovative Coinbase Diamond protocol. This partnership seeks to harness blockchain technology to enhance capital access for small and medium enterprises (SMEs), providing a more efficient and transparent financing solution.
Greengage officials expressed enthusiasm about the partnership, emphasizing their commitment to supporting SMEs. By originating SME debt on the Coinbase Diamond protocol, they aim to not only bolster their capacity to aid small businesses but also pioneer financial innovations that promote growth and sustainability in this vital sector.
The Coinbase Diamond protocol enhances the issuance and management of private capital through blockchain technology, issuing native digital debt. This approach ensures a more secure and accessible process for a broader range of investors.
Greengage is a digital finance platform based in London, offering e-money account services tailored for SMEs. The company focuses on multi-currency accounts and credit solutions, aligning with Coinbase’s digital asset services. Additionally, Greengage provides a B2B lending platform with digital sources of money.
The collaboration between Coinbase and Greengage marks a major advancement in utilizing blockchain technology to aid SMEs. By improving the efficiency and transparency of SME financing, this partnership is poised to foster growth and sustainability within the sector, showcasing the promise of innovative financial solutions in meeting the needs of small businesses.
