Toronto, Ontario, GreenCoinXInc, a subsidiary of GreenBank Capital Inc a Canadian publicly listed company (CSE:GBC), the developers of the world’s first identifiable crypto currency, announces that the Isle of Man government welcomes GreenCoinX to the Isle of Man.

The Isle of Man Chief Minister Allan Bell MHK said:

“We welcome the decision by GreenCoinX to establish its operations in the Isle of Man which reinforces our position as leading the way in the digital currency sector.”

GreenCoinX has now opened its European marketing and international treasury office in Douglas, Isle of Man, and has engaged the services of Alan Molloy as CEO of its Isle of Man operations. Mr Molloy was previously the Managing Director of international services for Duncan Lawrie, a British private bank. GreenCoinX will shortly commence its unique global treasury function, which is designed to dampen volatility in the price of the GreenCoinX crypto currency, and will be hiring an estimated 20 new employees in the Isle of Man over the next 18 months. Discussions with the Isle of Man Government have led to the Isle of Man being chosen as the location for these services, with no financial commitment having being made by the Government.

Laurence Skelly MHK, Isle of Man Minister for Economic Development said:

“GreenCoinX has the potential to make a significant difference in the digital currency arena and the Isle of Man Government is very supportive of any organisation that has aspirations such as this, as it matches our own ambitions in terms of high standards and rapid growth.”

Isle of Man Chief Minister Allan Bell MHK further said:

“The Isle of Man has worked hard to establish a reputation as a responsible and innovative international business centre. Consistent with this policy, we are one of the first countries in the world to have amended legislation to apply to digital currency, helping to protect consumers and keep out crime. This clear policy position, coupled with other advantages including the strength of our IT infrastructure and the quality of our financial and professional services, is attracting responsible businesses seeking to operate in the sector. As a result, we have already attracted over 20 businesses to the Isle of Man from all over the world with more considering a similar move.”

Danny Wettreich, Chairman of GreenCoinXInc, commented:

“The Isle of Man has a superb technological and corporate infrastructure which makes it very attractive as a business location. It also has an enlightened Government attitude that is receptive to finding the best practice in the execution of complex crypto currency issues. In that sense we feel that we have found a kindred spirit.”