Coinsilium Group Limited (COIN)
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium Group Limited: Crypto-assets Treasury Update
London, UK, 3 November 2021 - Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Blockchain, and Open Finance venture builder, is pleased to provide an update on the status of its crypto-asset treasury holdings.
Crypto-assets Treasury Status
As of 3 November 2021, the USD value of Coinsilium's vesting and fully vested crypto-asset treasury, excluding cash at bank, stood at USD4,220,495.
The Company's crypto-asset holdings are predominantly denominated in highly liquid cryptocurrencies with holdings in Bitcoin (BTC) and Ether (ETH) representing approximately 82.8% (approximately USD3.49m) of its fully vested crypto-assets. The remaining 17.2% is predominantly made up of RSK Infrastructure Framework (RIF) and Indorse (IND).
Since the last update provided by the Company in its interim accounts published on 30 September 2021 which reported the value of crypto-assets held as of 30 June 2021, Coinsilium's fully vested and vesting crypto-assets treasury position has increased in value by approximately 113%, from USD1,960,885, reflecting the strong performance of Bitcoin and Ether, which both hit all-time high levels last month, and the overall increase in global cryptocurrency markets which are now valued at approximately USD2.74T.
We are also extremely pleased to note the recent strength in the IND token price ahead of the launch of their BlockBots 'play to earn' NFT game. It is expected that future demand for IND will be further enhanced by the role that the token is set to play within BlockBots as the native cryptocurrency for in-game purchases. The IND token is currently trading at US$ 0.071 representing an increase of 260% compared to the previous corresponding 30-day period. Coinsilium holds 5.35m IND, representing 14.12% of current circulating supply, with a current market value of approx US$385,192.
Executive Chairman Malcolm Palle commented; "The ongoing strength in the cryptocurrency markets continues to be reflected in the robust growth of our crypto-asset treasury holdings and significantly bolsters our cash position. As investors are aware, most of our cryptocurrency reserves have been derived from revenues originally generated from our advisory work and from bonuses associated with the investments we have made. As our venture and investment activities ramp up, our focus now is to ensure that these resources continue to be managed wisely and in the most effective way to optimise the company's growth trajectory."
The Directors of Coinsilium Group Limited take responsibility for this announcement.
Notes to Editor
Coinsilium is a focused Blockchain and Open Finance venture operator 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 NFT arena and also 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 a 50:50 venture with IOV Labs in Singapore, enabling the promotion and commercialisation of RSK's products, services and technologies in global markets; and has partnered with blockchain technology experts Indorse to create Nifty Labs, a Non-Fungible Token ('NFT') technology development studio in Gibraltar.
Coinsilium shares are traded on the APEX segment of the AQSE Growth Market in London, under the ticker symbol "COIN", and on OTCQB Venture Market in the United States under the ticker symbol "CINGF".
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