Genius Group has closed an $8 million offering to take a 9.9% stake in Jewel Financial, a Bermuda-based digital banking firm. The investment is aimed at growing the company's stablecoin banking business.
A Stake in Jewel Financial
The offering was structured as a direct investment, giving Genius Group a minority ownership in Jewel Financial. Neither company has disclosed the exact terms beyond the stake size and the total raised. The deal closed recently, though the exact date wasn't made public.
Jewel Financial operates in Bermuda's digital banking space. The jurisdiction has become a focus for digital asset companies due to its regulatory framework. Genius Group's move puts it alongside other players betting on stablecoin-related services in the region.
Stablecoin Banking as a Focus
Genius Group said the investment targets stablecoin banking growth. Stablecoins are digital tokens designed to hold a steady value, often tied to a fiat currency like the U.S. dollar. By taking a stake in Jewel Financial, Genius Group gains a foothold in that market without building its own infrastructure from scratch.
The company hasn't spelled out specific products or services it plans to launch. But the stake signals a strategic bet on digital banking tied to stablecoins — an area that regulators globally are still figuring out.
Bermuda's government has been actively courting digital asset firms with clear licensing rules. That might have made Jewel Financial an attractive partner. Still, the stablecoin banking sector remains nascent, and competition is growing.
Genius Group hasn't said whether it will increase its stake later or if this is a one-time investment. The $8 million offering is closed, meaning the capital is now deployed. What comes next for the two companies isn't public yet.
