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Coinsilium client FANTOM Foundation sells US$39.8mln in tokens

The NEX-listed blockchain investor and advisory group said FANTOM had recently announced a partnership with the Korea Food-Tech Association

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Coinsilium was appointed as an adviser to FANTOM in May

Coinsilium Group Limited (AQSE:COIN) said its advisory client, FANTOM Foundation, has raised US$39.8mln following a successful token sale.

The NEX-listed blockchain investor and advisory group said FANTOM, a company which has developed a platform to solve scalability issues around distributed ledger technology, had recently announced a partnership with the Korea Food-Tech Association, an organisation with over 90 food tech member companies valued at around 200 trillion South Korean won (US$179bn).

READ: Coinsilium to advise on token generation for ‘smart contracts’ platform

FANTOM has also engaged in technical partnerships with industry giants such as Oracle and SBCK (a subsidiary of SoftBank Korea).

Eddy Travia, chief executive of Coinsilium, said: "The success of FANTOM's public token sale in a short time-frame illustrates the high level of interest in this project from the investment and blockchain communities globally. The team must now demonstrate the value of their protocol, but we see indications that FANTOM's technology is being considered very seriously, both at the enterprise and government levels."

Coinsilium was appointed as an adviser to FANTOM in May ahead of the token generation event.

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