Blockchain investor Coinsilium Group Limited (AQSE:COIN) is to launch a new private fund which will hold digital assets and tokens that the company has received in return for advisory services and investment activities.
Coinsilium, in a statement, noted that it has advised eight companies on “token generation events” during 2017 - four were successfully completed in the year, and four more are due to complete by the second quarter.
At today’s rate, the tokens have a total value of US$5.34mln and there are US$3.4mln worth of tokens due to vest in 2018 plus US$1.1mln in 2019, Coinsilium said.
Though, highlighting the volatility in cryptocurrency market, the company added: “It is important to note that the US dollar values of digital tokens can fluctuate in a significant manner over short periods of time and therefore the values mentioned are subject to variation.”
Coinsilium also highlighted that the second half of 2017 was a most active period for its ‘token Economy’ related investment activities and advisory services.
Eddy Travia, Coinsilium chief executive, said: “Coinsilium’s Advisory Services division now forms an important component in Coinsilium’s business strategy and the establishment of the private fund in Gibraltar is a natural progression for our business.
“We look forward to updating investors on progress on the establishment of the fund and future developments in relation to our advisory services.”