Regional Bank of Sedo a reality: $1.5 billion in assets
What happens when the biggest and healthiest player in the domain sector decides to up the ante?
Long-known for its established stronghold in the domaining circles, domain aftermarket and PPC provider Sedo is now moving into a much larger territory: Banking.
The location is perfect: headquartered in the heart of New England, the Bostonian corporation is utilizing its proximity to New York, London, UK and Frankfurt, Germany to facilitate a triad of financial pillars only seen by major international banks.
“The decision was made in order to better control the company assets and to better flow capital from our enterprises to hundreds of thousands of clients”, said Marcus Bielby. “With almost $1.5 billion dollars in liquid capital and convertible assets we are able to make the best possible investment: our very own company!”
Regional Bank of Sedo – as the name of the bank will be – will control $1,492,670,700.45 in initial capital that will allow Sedo to immediately perform a series of investments, including the provision of consumer loans to domainers.
“We are looking forward to providing loans to those domainers that have displayed great portfolio performance with their domains that are parked with Sedo”, said Marcus. “In a market that is controlled primarily by Google, we would like to support the best players and reward them with the financial incentive to further invest in domains – all at a very competitive interest rate!”, he added.
The Regional Bank of Sedo headquarters will be moved further downtown, much to the dismay of some Sedo employees that enjoy the company’s current proximity to the bay, where all the best seafood places are.