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Coinsilium launches fund to hold cryptocurrency assets

Published: 02:17 24 Jan 2018 AEDT

bitcoin and cryptocurrency
It has received cryptocurrency tokens as payment for services

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.”

Coinsilium says 2017 has been transformational year for the company

Coinsilium Group Limited’s (AQSE:COIN) Malcolm Palle and Eddy Travia tells Proactive the company saw  a demand for its advisory services. Malcolm Pale said: “In the middle of last year we launched an advisory service division, which was designed to leverage our skills and advice companies...

on 1/6/18