Silver Castle, Israel’s First Digital Currency Investment House, Joins TASE Following Its Merger With Publicly Traded ICB

Silver Castle offers capital market investors safe and professional digital assets investment opportunities and is striving to boost awareness of the digital currency investment platform in Israel.

Silver Castle Investment House and publicly traded Israel-China Biotechnology (ICB) have announced today, May 5, 2021, the signing of a memorandum of understanding leading up to the merger of the two companies. As part of the transaction, Silver Castle shareholders will be allotted shares that will constitute 75% of the merged company. The deal is being managed by Cybele-Holdings, Katzenell Dimant Law Offices and Zitvar Galor & Co. Law Offices.

Israel-China Biotechnology, which has previously invested in a number of Israeli biotechnology initiatives, specializes in forming collaborations with Chinese companies. ICB is controlled by Chinese entrepreneur Huang Qingxi and managed by Andrew Zhang. A few months ago, the company began searching for additional investment and merger opportunities in the Israeli market.

Silver Castle Investment House was established in 2018 by senior Israeli banking and capital market executives (CEO) Eli Mizroch, Zvi Ziv, Gabi Ravid, Chen Munitz, Rami Beinish, and Danny Silbiger.

The investment house offers a variety of products and services that provide customers with a convenient, easy and safe way to invest in digital assets through hedge funds that specialize in digital currencies. Moreover, the company is exploring additional channels, including bitcoin-backed loans, R&D in advanced trading strategies and products for institutional clients. The company’s vision is to offer smooth and regulated access to crypto-based assets and identify cryptocurrency investment opportunities.

Silver Castle CEO Eli Mizroch: “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. In view of the growth in the global digital currency market, we believe that the Israeli capital market is absolutely ready for digital investing. 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.”

Israel-China Biotechnology CEO Andrew Zhang: “The field of cryptocurrency is a fascinating and evolving field. 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.”

Since the beginning of the year, Bitcoin has experienced a phenomenal increase of 85% in value. But despite this growth and its popularity, the cryptocurrency market is still in its infancy. According to estimates, Israeli investors currently own between NIS 1.5 billion and NIS 2.5 billion, with figures rising steadily.