COINSILIUM GROUP LIMITED

("Coinsilium" or the "Company")

Coinsilium Group Limited: Investee Company Update

London UK, 23 December 2022, Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Web3 investor, advisor, and venture builder is pleased report that it has received a shareholder update from investment portfolio company Greengage Global Ltd (“Greengage”), the content of which has been reproduced below verbatim.

Details of Investment

Coinsilium’s investment in Greengage was completed on 7 September 2021 and conducted via Coinsilium's wholly owned Gibraltar registered subsidiary, Seedcoin Limited ("Seedcoin"), whereby Seedcoin invested GBP200,000 in convertible notes and has also taken GBP300,000 equity in a secondary stake sale that values Greengage at GBP27.3m.

Coinsilium CEO Eddy Travia commented: “We are delighted to note the solid progress Greengage has reported in its most recent shareholder update. Greengage aims to become a next generation digital merchant bank and today’s news of the imminent launch of its E-money account services can be seen as a major milestone on that journey. Further details on Coinsilium’s investment in Greengage and our other investments and advisory clients can be found on the Coinsilium website: https://coinsilium.com/investors/presentations

Greengage Investor Update

21.12.22

Dear Shareholder,

Thank you for your ongoing support for Greengage, in what has been an eventful year for us (and for the crypto industry overall)! I’m delighted to be sharing some good news about our developments with you, including most importantly our upcoming launch of e-money account services in the New Year:

1. Go-live e-money account services (January 2023): We’ve passed our audit from Modulr on the 14th December and will be launching fiat (GBP, EUR) payments with sort codes, IBANs, and Visa cards for friends and family accounts in January. This is a very big launch for us and we have invested considerable time and effort in the systems and controls to run an e-money business, including building our own Software-as-a-Service (“SaaS”) technology largely on Salesforce and Microsoft Azure, as well as working with partners on key components such as compliance. By way of reminder on the difference between full banking and e-money account services, we cannot take deposits and pay interest, and also we cannot engage in lending activities or issuing credit. A good description on the differences is available here: Emoney and what you need to know | ICAEW
2. Client onboarding pipeline: We anticipate a healthy flow of new clients from the relationships we have built up over the past years, with direct prospect clients as well as with partners including accountants and solicitors. We are charging £5k p.a. which is materially lower than some competitors for “crypto friendly” fiat payments services, which we can afford given our diversified revenues across SaaS technology services and our B2B funding platform business (across traditional and digital). We would very much welcome client referrals where appropriate – primarily we are focusing on crypto companies, SMEs, and transactional business from high net worth individuals. Our e-money services approach has been very much informed based on our findings from a survey conducted with ~70 prospective clients earlier this year: Greengage Banking Services Survey Findings
3. Web 3 / metaverse: Greengage has always been forward looking. Our core “digital merchant banking” vision has centred around the idea of working with partner balance sheets to give funding to our clients, not just from our own monies, but to offer a wide range of products and services with partners. As “Web 3” has evolved – including the idea of democratising finance – Greengage has responded and our B2B funding platform has grown accordingly with new services. We’re also looking to engage in the metaverse with a view to keep our ears to the ground on developments and to meet new prospect clients, and have our first metaverse branch launch planned in the New Year (see demo here, which only works on a pc for now: Eldora - GreenGage (six-pounds.com). 
4. In the press: Since July, we have achieved some excellent coverage, mainly attributed to Greengage Banking Services Survey Findings, which was subsequently promoted in Innovate Finance’s enewsletter to 12k subscribers twice, two blogs, an episode on The Gage and numerous socials posts, and coverage from joining Technation, announcing our partnership with Eldora and publishing Greengage's Crypto Glossary. We featured in seven articles (e.g. Will the UK lead the way in embracing crypto assets and blockchain?’, Eldora’s blog on our partnership, I featured on the Citywealth Leaders List) and published seven blogs (e.g. ‘The Challenges of Crypto Compliance’, 'Entrepreneurship and Diversity in the UK’, Blog 1 and 2 of Greengage Banking Services Survey Findings) and released five more The Gage podcasts – one featuring Lord Chris Holmes. Also we attended 39 events (e.g. APPG’s Westminster Hall Debate, UK Cryptoasset Business Council Parliamentary winter reception, Innovate Finance 'Fintech as a Force for Good' Summit) and six webinars of which I was a panellist at eight of these events/webinars (e.g. Zebu Live, Digital Transformation in Financial Services Summit webinar via Bright Talk, I featured on Harrington Starr’s FinTech Focus TV to discuss ‘Creating the Digital Merchant Bank’). 
5. Financials: We have generated another £1m+ in revenue this year across our SaaS technology services and platform business lines. We anticipate a healthy stream of new e-money account services revenues and are continuing discussions with potential investors to fund growth.
6. Crypto markets: Greengage has zero FTX exposure, and as we focus on “picks and shovels” and infrastructure rather than the more speculative end of the crypto markets we have been largely insulated from some of the media headlines around crypto volatility. We anticipate that our relatively competitive e-money services price point at £5k p.a. will position us well to service crypto company clients at the “base of the pyramid” which are building interesting solutions on blockchain, and through which we can build relationships to help cross-fertilise our technology services and platform businesses.
7. SaaS technology: Our first SaaS technology standalone app to support screening against the corporate and individual Telephone Preference Service, which is designed as an in-built Salesforce widget which Greengage has been using for some time, is planned to launch in the New Year. We’re looking to increase our suite of apps in future and this is very much a pilot, and will extend our recurring technology revenues.
8. Website refresh: We’ve changed name from DAG to Greengage now some time ago, and we will be looking to enhance further the Greengage brand with a new website also going live in the New Year. We think the new design is more visually intuitive, and better speaks to our role bridging the traditional world of finance with new technologies. We look forward to sharing the results with you in due course.

On behalf of Greengage, we wish you and your families a very happy holidays and a joyous New Year ahead. We wouldn’t have been able to achieve any of the above without your backing, and we look forward very much to building on this success in 2023 with our big launch!

ENDS

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

Notes to Editor 

About Coinsilium   

Coinsilium is a focused Web3 Investor, Advisor and Venture Builder based in Gibraltar, a pre-eminent global regulatory jurisdiction and a leading hub for innovative financial technology. In 2015, Coinsilium became the first blockchain company to IPO. The Company has evolved to develop revenue-generating strategic advisory services and is a highly regarded innovator with proven technological and commercial expertise and development capabilities in the Web3 arena and within Open Finance. 

Coinsilium has developed an array of commercial partnerships and joint ventures around the world to support its development capabilities, giving it access to best-in-class tech experts, a strong network, and asserting its profound industry profile. It has also partnered with blockchain technology experts Indorse to create Nifty Labs, a Web3 and Non-Fungible Token ('NFT') technology development studio in Gibraltar. 

Coinsilium shares are traded on the AQSE Growth Market in London, under the ticker symbol "COIN", and on the OTCQB Venture Market in the United States under the ticker symbol "CINGF".