The UK-listed Bitcoin treasury company says the facility will bridge equity settlements, enabling faster Bitcoin purchases during volatile markets.
United Kingdom-listed Bitcoin treasury firm The Smarter Web Company has secured a $30 million Bitcoin-backed credit facility from Coinbase Credit. The facility is secured against Bitcoin held in custody with Coinbase.
The company said Tuesday the facility is designed to help it deploy capital into Bitcoin (BTC) immediately after equity raises, reducing settlement timing risk during volatile markets. Smarter Web said it does not intend to use the facility as long-term debt to finance Bitcoin purchases.
Smarter Web is listed on the London Stock Exchange’s Main Market and also trades on the OTCQB Venture Market in the United States. The company describes Bitcoin as a core component of its treasury strategy and has previously said it aims to expand its digital asset holdings.
