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Coinsilium Group Limited (COIN)
Coinsilium Group Limited: Gibraltar Operations Update - Coinsilium
(Gibraltar) Limited
13-March-2019 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
13 March 2019
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Gibraltar Operations Update - Coinsilium (Gibraltar) Limited
Coinsilium Group (NEX: COIN), the blockchain venture builder, advisor and
investor that manages and finances the development of early stage blockchain
technology companies, is pleased to provide an update on its Gibraltar
operations.
The Company announced in its Strategic Update of 14 January 2019 that it
would be increasing its presence in Gibraltar by moving the management of
core operations, such as its advisory services division, there from London.
This relocation to Gibraltar reduces the Company's operating costs, enabling
Coinsilium to allocate more resources toward investments and the provision
of revenue generating activities such as its accelerator and advisory
services.
Coinsilium (Gibraltar) Limited Established
Coinsilium (Gibraltar) Limited ("CGL") is now incorporated as a wholly owned
Gibraltar registered subsidiary of Coinsilium Group Limited and will act as
the Company's operating vehicle in Gibraltar. CGL is registered with the
local tax office and is now in the process of applying for the relevant
business licences to enable the undertaking of its proposed business
activities and to grow the Company's advisory services capability in
Gibraltar.
CGL is positioning itself to provide a range of specialist services
including educational and strategic advisory support. CGL is also well
positioned to play a significant role in the fast-growing sector of Security
Token Offerings (STOs) or Digitised 'Smart' Securities. Further
announcements in this regard will be made in the coming weeks and months.
Gibraltar has been identified by the Company as the jurisdiction of choice
and provides a progressive regulatory environment that welcomes innovation,
together with an accessible and forward-thinking regulator. This provides a
higher level of regulatory certainty for companies operating within the
blockchain and cryptocurrency sector. Gibraltar is currently attracting
numerous international Fintech businesses, including blockchain start-ups,
multi-currency digital wallet providers, e-money institutions and innovative
payment service providers.
Demonstrating the importance of this business development Coinsilium Group
Executive Chairman Malcolm Palle is in the process of relocating to
Gibraltar to drive and manage CGL's operational build-up.
Appointment of ISOLAS LLP as advisors to Coinsilium (Gibraltar) Limited
The Company is also pleased to announce the appointment of Gibraltar law
firm ISOLAS LLP as advisors to CGL. Isolas is a market leader in the Fintech
sector, having worked closely with the Government of Gibraltar and the
Gibraltar Financial Services Commission on various niche areas within this
space. Isolas has been instrumental, through its participation in Government
established working groups, in shaping discussions and regulatory proposals
for Crypto-Currency, Crowdfunding and Distributed Ledger Technology.
Malcolm Palle, Executive Chairman of Coinsilium, commented: "The
establishment of Coinsilium (Gibraltar) Limited is an important step in the
transition of our advisory services division and we look forward to working
closely with our advisors and business partners in Gibraltar.
It is the Company's objective to utilise this strategic development to drive
our activities and rapidly build shareholder value. After the work
undertaken in recent years' we have established a robust business model and
a growing asset base with an extensive degree of connectivity in the early
stage blockchain technology environment from which to leverage our growth.
We have already advised numerous Gibraltar-based blockchain and
cryptocurrency businesses such as Gibraltar Blockchain Exchange (GBX),
StartupToken, RIF Labs and Dether, and we are looking to build close
relations with a wider group of businesses in the territory.
We look forward to working with our partners to leverage the tremendous
potential the Gibraltar opportunity offers."
Joey Garcia, Partner at ISOLAS LLP commented: "We are delighted to be
working with and assisting Coinsilium on their establishment and expansion
in Gibraltar. This move is demonstrative of the key players that Gibraltar
is attracting in the space and will no doubt benefit the growth of the
sector."
For further information, please contact:
Malcolm Palle, Executive Chairman +44 (0) 7785 381089
Coinsilium Group Limited
Eddy Travia, Chief Executive Officer +44 (0) 20 3889 4312
Coinsilium Group Limited
www.coinsilium.com [1]
Guy Miller / Mark Anwyl +44 (0) 207 469 0930
Peterhouse Capital Limited
(NEX Exchange Corporate Adviser)
Nick Emerson +44 (0) 1483 413 500
SI Capital Limited
(Broker)
Notes to Editors:
About Coinsilium
Coinsilium is a venture builder, investor and advisor, supporting
early-stage blockchain technology companies and the digital token economy.
As the first ever IPO of a blockchain company in 2015, Coinsilium harnesses
its experience and wide-ranging network to invest in some of the world's
leading blockchain projects such as RSK/RIF Labs and Factom.
Coinsilium shares are traded on NEX Exchange Growth Market, the primary
market for unlisted securities operated by NEX Exchange, a Recognised
Investment Exchange under the Financial Services and Markets Act 2000.
For further information about Coinsilium, please visit www.coinsilium.com
[2]
ISIN: VGG225641015
Category Code: MSCH
TIDM: COIN
Sequence No.: 7792
EQS News ID: 786823
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(END) Dow Jones Newswires
March 13, 2019 03:01 ET (07:01 GMT)
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