COINSILIUM GROUP LIMITED

("Coinsilium" or the "Company")

 

Coinsilium Group Limited: Crypto Treasury and Staking Update

 

 

London, UK, 20 August 2020 - Coinsilium Group Limited (AQSE:COIN) the Blockchain, DeFi and Crypto Finance venture operator, is pleased to provide its first update regarding its Crypto treasury position and staking activities.

 

Further to its announcement of 13 July 2020 the Company wishes to advise that it has now commenced active management of the cryptocurrencies it holds in treasury and has also cautiously extended its initial staking activities on a strict risk managed basis.

 

As of 19 August 2020 the USD value of Coinsilium's fully vested cryptocurrency and token treasury, excluding cash at bank, stands at USD575,134. This is predominantly denominated in highly liquid cryptocurrencies and tokens including BTC, ETH, ICX and RIF. In addition to Coinsilium's cryptocurrency and token treasury position, there is also a further USD104,559.82, at current value, of RIF tokens which will vest monthly over the forthcoming 27 months.

 

The overall cryptocurrency market has materially strengthened in recent months which has provided the Company with the opportunity to exit and swap out of certain token positions into more liquid positions that, in the Directors' view, either offer greater liquidity, stronger future growth potential, or a combination of both. 

 

Staking activities commenced in July and have now been moderately extended, specifically with regard to the utilisation of Company's vested RIF tokens deployed on Money on Chain's RIF on Chain platform, as referred to in the Company's 13 July 2020 announcement.

 

Further details of Money on Chain's products and platforms can be found here:

 

 

Whilst staking activities are at a very early stage and network conditions are rapidly evolving, we are most encouraged by the strong and consistent growth in activity we are seeing on the Money on Chain platform and we believe that a combination of active crypto treasury management and prudent staking activities can provide a reliable additional revenue stream for the Company.

 

The Company will continue to actively manage its crypto treasury positions and as advised in its 13 July 2020 announcement, it will be looking to develop further in-house expertise to manage its digital assets and take advantage of various other income generating opportunities available in the Crypto Finance market. Further updates will be provided to the market in due course.

 

The Directors of Coinsilium Group Limited take responsibility for this announcement.

 

For further information, please contact:

 

 

 

Notes to Editor

 

About Coinsilium

 

Coinsilium is a focused Blockchain, DeFi and Crypto Finance venture operator. As the first ever IPO of a blockchain company in 2015, Coinsilium has harnessed its experience and wide-ranging network to invest in leading blockchain projects such as RSK/IOV Labs, Indorse and Blox.

 

In July 2020 Coinsilium executed an agreement with global blockchain protocol company IOV Labs, to establish a 50/50 Joint Venture Company in Singapore to promote and commercialise RSK's products, services and technologies in the Asian markets and to promote the adoption in the region of the RIF token which powers the ecosystem of solutions developed by RSK, their partners and developers around the world.

 

Coinsilium shares are traded on the AQSE Growth Market, the primary market for unlisted securities operated by Aquis Stock Exchange, a Recognised Investment Exchange under the Financial Services and Markets Act 2000.

 

For further information please visit or follow @CoinsiliumGroup on Twitter