Coinsilium Group Limited (COIN)
RSK parent company acquires leading Social Network bringing Bitcoin
technology to 30 million users
30-Sep-2019 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
RIF & RSK parent company IOVLabs acquires leading Social Network to bring
Bitcoin technology to 30 million users
RIF services and the Bitcoin-powered RSK Network will be integrated into the
largest Spanish speaking social network in the world
London, UK, 30 September 2019 - Coinsilium Group Limited (NEX:COIN), the
blockchain venture builder, advisor and investor that finances and manages
the development of early-stage blockchain technology companies, is pleased
to report an update announcement made by IOVLabs ('IOVLabs'), the parent
company of RSK ('RSK'), on 27 September. The full text of the announcement
can be seen below.
Highlights:
· RSK parent company IOVLabs acquires Taringa, world's largest
Spanish-speaking social network platform
· 30m registered users, 13m active users and 1,000 active online
communities
· Acquisition puts RSK at the forefront of adoption in distributed ledger
technologies as the first step towards mass adoption of both RSK and RIF
platforms
Coinsilium's interest in RSK is represented by way of 1,951,846 RIF tokens.
As announced on 19 November 2018, Coinsilium's shareholding of 65,000 series
Seed 1 RSK shares was converted to RIF tokens by way of a 'share for token'
swap. The RIF tokens are now vesting and will continue to do so over the
remainder of the vesting period. Coinsilium Chairman Malcolm Palle is also a
member of the board of directors of IOVLabs.
Coinsilium Chief Executive Eddy Travia commented: "We are delighted by the
news of this exciting strategic acquisition by RSK's parent company IOVLabs.
Taringa is the largest Spanish language social network in the world and with
an estimated 534m Spanish speakers globally*, in terms of adoption, this
acquisition represents a unique opportunity to introduce millions of people
worldwide to the existing and upcoming RIF-based solutions, including
rewards and payments, peer-to-peer exchanges and decentralised application
marketplaces.
"As initial investors, Coinsilium has been supporting RSK since its early
days and we continue to work actively with the IOVLabs/RSK team both in
Gibraltar and, as announced 11 July 2019, through our strategic advisory
agreement to accelerate Southeast Asian adoption of RSK Smart Contract and
RSK Infrastructure Framework (RIF OS) Blockchain solutions.
"I am confident that this acquisition and the worldwide exposure it will
achieve for RSK and RIF OS will accelerate the commercial development of RSK
and positively impact the adoption and value of the RIF token."
(*) Source: https://www.ethnologue.com/language/spa [1]
Announcement released by IOVLabs
IOVLabs Brings RSK Technology to 30 Million Users Social Network by
Acquiring Taringa
IOVLabs, the creator of the RSK Bitcoin Smart Contract platform and the RIF
token, announced today the acquisition of Taringa, the top Spanish-speaking
social network in the world with 30 million users and over 1,000 active
online communities.
Having access to Taringa's user base will provide the company with
invaluable information and data to test and distribute new decentralized
infrastructure and apps powered by the RSK platform and the RIF token at a
large scale.
Jointly with Taringa's leadership, the company plans to create innovative
consumer products and services for its communities, using RSK's
decentralized infrastructure.
Diego Gutierrez Zaldivar, CEO of IOVLabs, commented: "Blockchain is powerful
technology, but it needs mass adoption to create meaningful value. This
acquisition puts us at the forefront of adoption in distributed ledger
technologies. Having access to such a large community will also be
invaluable for gathering quick feedback from users of all the RIF-powered
tools and protocols we are launching in the near future. We see Taringa as
the first step towards massive adoption of both RSK and RIF platforms, and a
great step forward for our long term vision of empowering individuals
through decentralization. We can't wait to share more news about the first
products very soon, as we continue building the Internet of Value".
Matías Botbol, CEO of Taringa, commented: "We are very excited about joining
forces with the creators of RIF and RSK, as we truly believe that our users
and communities should benefit from the contributions they make to our
social network. We are already building our first tool to allow Taringa
users to get rewarded by being active participants in their communities.
Once this is in place, we envision adding more features, including
peer-to-peer token exchanges, a marketplace for other dApps to start
offering products and services to our users, and more. Our ultimate goal is
to create a new open, decentralized Internet that respects individual's
freedom of speech and privacy".
IOVLabs has been forging partnerships and developing decentralized
infrastructure and products since the launch of the RSK mainnet in January
2018 and the release of the RIF
Token in November 2018. The company, headquartered in Gibraltar, has a
global footprint with offices in Buenos Aires, Montevideo, Shanghai,
Singapore, and an innovation studio in
San Francisco.
For press inquiries: press@iovlabs.org
https://www.iovlabs.org/press/pr/IOV_PressRelease_Taringa_English.pdf [2]
The Directors of Coinsilium Group Limited take responsibility for this
announcement.
For further information, please contact:
Coinsilium Group Limited +44 (0) 7785 381 089
Malcolm Palle, Executive Chairman www.coinsilium.com
Eddy Travia, CEO
Peterhouse Capital Limited +44 (0) 207 469 0930
Guy Miller / Mark Anwyl
(NEX Exchange Corporate Adviser)
SI Capital Limited +44 (0) 1483 413 500
Nick Emerson
(Broker)
Yellow Jersey PR +44 (0) 20 3004 9512
Chris Flame / Dominic Barretto
(PR & IR)
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/IOVLabs, Indorse, Blox 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
About IOVLabs
IOVLabs is a purpose driven organization focused on developing the platforms
needed for a new blockchain-based financial system that will enable
worldwide financial inclusion and bridge the gap between these nascent
technologies and mass adoption.
The organization currently develops the most popular implementations of the
RSK Smart Contract Network and RIF OS platforms. RSK Network is the most
secure Smart Contract platform in the world, as it relies on Bitcoin's hash
power. RIF OS protocols are a suite of open and decentralized infrastructure
protocols that enable faster, easier and scalable development of distributed
applications (dApps) within a unified environment to enable mass adoption of
Bitcoin and RSK.
For further information about IOVLabs please visit: https://iovlabs.org/ [3]
About Taringa
Taringa! is the most visited Spanish-speaking entertainment and knowledge
site in Latin America and Spain with a broad range of content, where users
share information, news, videos and links. With more than 30 million
registered members, 13 million active users monthly and 1000 active
communities, Taringa! is the largest social media network in
Spanish-speaking countries.
For further information about Taringa please visit: https://www.taringa.net/
[4]
ISIN: VGG225641015
Category Code: MSCM
TIDM: COIN
Sequence No.: 21675
EQS News ID: 881945
End of Announcement EQS News Service
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(END) Dow Jones Newswires
September 30, 2019 02:00 ET (06:00 GMT)
