Smarter Web Secures $30 Million Coinbase Credit Line to Accelerate Bitcoin Treasury Strategy
The Smarter Web Company is a British Bitcoin treasury company listed on the London Stock Exchange’s Main Market and traded on the U.S. OTCQB market. It holds Bitcoin as its core treasury asset. The company has continued to add to its holdings through equity raises, but settlement delays could cause it to miss buying opportunities during sharp price swings. It therefore arranged short-term credit to bridge the gap before proceeds arrive.
On February 24, 2026, Smarter Web secured a $30 million Bitcoin-backed credit line from Coinbase Credit, collateralized by Bitcoin held in Coinbase custody. The facility allows the company to buy Bitcoin after an equity raise but before the proceeds settle, then repay the borrowing once the funds arrive. At the time, it held 2,689 Bitcoin at an average cost of $112,865 each.
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The history behind this eventSmarter Web Sells 178 Bitcoin to Repay $11.7 Million TOBAM Convertible Early
The Smarter Web Company, a London-listed Bitcoin treasury firm, unveiled Smarter Convert on Aug. 6, 2025, after issuing the one-year, interest-free instrument to TOBAM-related entities. The structure required at least 98% of subscription proceeds to be invested in Bitcoin; the company deployed all of them. Due Aug. 5, 2026, the financing linked debt repayment to the acquired coins and carried potential equity dilution, testing how digital-asset treasury companies manage funding when market conditions shift.
On July 23, 2026, Smarter Web said it sold 177.8909127 Bitcoin at an average $65,762 apiece and repaid $11,698,540 to TOBAM about two weeks before maturity. The disposal covered the entire Bitcoin position bought with the original proceeds and eliminated the potential issuance of 7,718,551 ordinary shares. The company retained 2,700 Bitcoin after the sale. Chief Executive Andrew Webley said fiat- or Bitcoin-denominated convertible instruments were not currently the right capital solution for the company.
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