Business
Neptune Increases Credit Line with Sygnum Bank to US$25 (CDN$36) Million
Vancouver, British Columbia--(Newsfile Corp. - January 27, 2025) - Neptune Digital Assets Corp. (...
About this update from Neptune Digital Assets Corp
[{"type":"text","content":"Neptune Increases Credit Line with Sygnum Bank to US$25 (CDN$36) MillionVancouver, British Columbia--(Newsfile Corp. - January 27, 2025) - Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) (\"Neptune\" or the \"Company\"), a blockchain leader in Canada, is pleased to announce that it has increased the size of the previously announced strategic borrowing relationship with Sygnum Bank, a Swiss bank specializing in servicing crypto-native companies, from US$20 million to US$25 million.The Company intends to use the funds to expand and purchase Bitcoin and other crypto-related assets, in addition to supporting strategic investments. The loan will be secured against the Company's Bitcoin holdings. There is no minimum balance requirement, and Neptune may draw on the facility as needed. As of the date of this news release, the Company has not drawn on the line of credit.\"We are happy to have increased this line of credit. The increase to US$25 million from the previously announced US$20 million required an additional set of approvals from Sygnum Bank management and we are pleased this was accepted,\" stated Cale Moodie, Neptune's CEO.\"We are excited to support Neptune in expanding its broad digital asset portfolio,\" said Benedikt Koedel, Head of Credit and Lending at Sygnum Bank. \"With this collaboration, we continue to support the growth of the crypto ecosystem in a secure and regulated environment.\"For more information on Neptune Digital Assets, please visit: www.neptunedigitalassets.comAbout SygnumSygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. Sygnum empowers professional and institutional investors, banks, corporates and digital ledger technology (DLT) foundations to invest in digital assets with complete trust. The team enables this through our institutional-grade security, expert personal service and a portfolio of regulated digital asset banking, asset management, tokenization and B2B services. In Switzerland, Sygnum holds a banking licence and has CMS and Major Payment Institution Licences in Singapore. The group is also regulated in the established global financial hubs of Abu Dhabi and Luxembourg and is registered in Liechtenstein. Sygnum's crypto-native team of banking, investment and digital asset technology professionals are building a trusted gateway between ...