Silver Castle Investment House, which is an Israeli digital asset investment firm, is merging with publicly-traded Israel-China Biotechnology (ICB) as the two companies have signed a memorandum of understanding for the deal last week.
Announced on Monday, the merger deal will pave the way for Silver Castle to become a publicly-traded company on the Tel Aviv Stock Exchange.
Looking Forward to Meeting You at iFX EXPO Dubai May 2021 – Making It Happen!
“The move to join TASE is a significant milestone in the evolution of public awareness, as well as in the promotion and recognition of the field of digital assets in Israel,” Eli Mizroch, Chief Executive at Silver Castle, said in the merger.
“In view of the growth in the global digital currency market, we believe that the Israeli capital market is absolutely ready for digital investing.”
Crypto Hedge Fund
Founded in 2018, Silver Castle offers cryptocurrency investment services through its digital currency hedge funds. Apart from Mizroch, its other Co-Founders are Zvi Ziv, Gabi Ravid, Chen Munitz, Rami Beinish and Danny Silbiger, all of whom are well-known names in the country’s banking industry.
The company is exploring services like Bitcoin-backed loans, advanced trading strategies and other products to expand its offerings to institutional clients.
“As the first dedicated crypto-investment house, we offer our clients a direct approach towards innovative investment opportunities, and can make crypto-investing accessible through our professional, experienced and valued team here in Israel,” Mizroch added.
Under the merger deal, Silver Castle shareholders will be allotted shares that constitute 75 percent of the merged company.
“The field of cryptocurrency is a fascinating and evolving field,” said Israel-China Biotechnology CEO Andrew Zhang.
“We looked into a number of ventures and reached the conclusion that Silver Castle and its management team’s vision will contribute significantly to ICB shareholders.”
Hot
No comment on record. Start new comment.