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COINSILIUM GROUP LIMITED Coinsilium Group Limited: Crypto Treasury Status Update

Transparency directive : regulatory news

21/12/2020 11:05

Coinsilium Group Limited (COIN)
Coinsilium Group Limited: Crypto Treasury Status Update

21-Dec-2020 / 10:05 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


COINSILIUM GROUP LIMITED

("Coinsilium" or the "Company")

 

Coinsilium Group Limited: Crypto Treasury Status Update

 

 

London, UK, 21 December 2020 - Coinsilium Group Limited (AQSE:COIN) (OTCQB:CINGF) the Blockchain, Open Finance and Crypto Finance venture operator, is pleased to provide an update regarding its cryptocurrency treasury position and staking activities.

 

As at 21 December 2020, the USD value of Coinsilium's fully vested cryptocurrency and token treasury, excluding cash at bank, stood at USD1,090,674. This is predominantly denominated in highly liquid cryptocurrencies and tokens including BTC, ETH, ICX and RIF. In addition to Coinsilium's current cryptocurrency and token treasury position, there is also a further USD127,190.67 at current value, of RIF tokens which will vest monthly over the forthcoming 23 months.

 

The cryptocurrency markets continue to go from strength to strength with Bitcoin now trading significantly above its previous all-time high of around USD20,000, as at the time of this announcement. Demand for the top 5 Cryptocurrencies is at previously unseen levels as a growing number of institutional investors look to gain exposure to cryptocurrencies within their portfolios. We are also now starting to see a new group of influential Bitcoin advocates from the mainstream, including renowned US hedge fund manager Paul Tudor Jones and MicroStrategy CEO Michael Saylor who recently diversified a significant proportion of his company's treasury position to include a high level of exposure to Bitcoin. Investors may find the following links useful in this respect:

 

https://news.bitcoin.com/coinbase-20-billion-cryptocurrency-custody-institutional-investors/

 

https://youtu.be/vveGfIfoDkc

 

Since the last cryptocurrency treasury update provided on 20 August 2020, the Company has taken advantage of the prevailing high levels of liquidity in the markets in order to divest of the bulk of its lesser valuable tokens, mostly received from its historical token-sale advisory work, trading into more liquid positions demonstrating stronger long term growth potential.

 

Staking activities in relation to the Company's vesting RIF tokens continue along similar prudent lines as stated in the Company's 20 August 2020 update, utilising Money on Chain's ("MoC") RIF on Chain platform. It is encouraging to see the growing levels of activity and adoption of MoC solutions, as well as an increase of around 60% in the RIF token price over the last three months. However, the Company believes that it is likely to take some time before staking activities alone will have the potential to generate returns on a par with those achievable from other active treasury management strategies, including for example, yield optimisation via solid, high volume Decentralised Finance platforms.

 

The Company announced on 17 December 2020 the launch of its new business operating strategy and its entry into the NFT market with its first project, the Gibraltar Crypto Stamp Digital Collectible, due to go live in Q2 2021, with opportunities for other NFT marketplaces currently under evaluation. This is expected to become particularly pertinent to the Company's ongoing cryptocurrency treasury management, since any revenues derived by the Company from the trading of NFTs on digital marketplaces will be denominated in cryptocurrencies. As such, the Company will be putting in place the appropriate strategies to actively manage its expected future cryptocurrency revenues and cash flow. 

 

Finally, we would like to take this opportunity to wish all our shareholders and partners the compliments of the season as we look forward to 2021 with confidence at this exciting time for the Company and the wider blockchain and cryptocurrency industry.   

 

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

 

For further information, please contact:

 

Coinsilium Group Limited

Malcolm Palle, Executive Chairman

Eddy Travia, Chief Executive

+44 (0) 7785 381 089

www.coinsilium.com

 

 

Peterhouse Capital Limited

Guy Miller / Mark Anwyl

(AQSE Growth Market Corporate Adviser)

+44 (0) 207 469 0930

 

 

SI Capital Limited

Nick Emerson

(Broker)

+44 (0) 1483 413 500

 

 

Notes to Editor

 

About Coinsilium

 

Coinsilium is a focused Blockchain, Open Finance 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 top 100 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 London-based 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 under the ticker symbol "COIN", and on OTCQB Venture Market ("OTCQB") in the United States under the ticker symbol "CINGF".

 

For further information please visit www.coinsilium.com or follow @CoinsiliumGroup on Twitter

 

 

 



ISIN: VGG225641015
Category Code: MSCM
TIDM: COIN
Sequence No.: 90079
EQS News ID: 1156626

 
End of Announcement EQS News Service

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