Coinsilium Group Limited (COIN)
Coinsilium Group Limited: IOV Labs and hosting of online Crypto Investor
Webinar
29-Apr-2020 / 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.
29 April 2020
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Portfolio Company Update: IOV Labs Ltd
and hosting of online Crypto Investor Webinar
London, UK, 29 April 2020 - Coinsilium Group Limited (AQSE:COIN), the
blockchain technology venture builder, advisor and investor, is pleased to
provide an update in respect of portfolio company IOV Labs Ltd ("IOV Labs").
Coinsilium's investment interest in IOV is represented by 1,951,846 vesting
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.
Money on Chain launch the 'RIF on Chain' Decentralised Finance ('DeFi')
platform
On 21 April 2020, Money on Chain ('MOC') announced the release of the 'RIF on
Chain' Decentralised Finance ('DeFi') platform backed by RIF tokens and
unveiled the three main assets available on the platform: the RIF Dollar
('RDOC'), the RIFpro ('RPRO'), and RIFX.
RDOC is a RIF-collateralised stablecoin pegged to the US Dollar and guaranteed
by a smart contract. RDOC tokens are directly available for sale on the RIF on
Chain platform against RIF tokens. RDOC can be freely transferred to and
stored on compatible hardware wallets. Redemption of RDOC depends on the
availability of redeemable RDOC stablecoins.
RPRO is a token mirroring the RIF token price fluctuations and redistributes a
share of the fees generated by the RIF on Chain platform transactions to its
holders. This means holders can stake RIF tokens and earn fees while enabling
an essential function of the RIF DeFi ecosystem.
RIFX is a leveraged asset for users who wish to get exposure to RIF token
price changes. Based on an automated smart contract that renews every 30 days,
the product has a leverage factor of 2X at the very beginning of its lifespan
and a variable leverage afterwards based upon certain variables such as the
price of RIF token and the amount of RDOC stablecoins on the RIF on Chain
platform.
The RIF on Chain launch briefing can be found here: RIF on Chain Launch [1]
https://www.rifos.org/blog/rif-on-chain-launch
Background to IOV Labs and Money on Chain
In 2018, IOV Labs introduced the RSK Infrastructure Framework Open Standard
(RIF OS), a suite of open and decentralised infrastructure protocols that
enable faster, easier and scalable development of distributed applications
(dApps) within a unified environment. The RIF token is the medium of exchange
allowing token holders to consume the services compatible with the RIF
architecture.
Building upon the RSK network, Money on Chain ('MOC') has developed one of the
first bitcoin-collateralized DeFi solutions. The MOC platform has recently
proven to be one of the most robust decentralized-financial platforms in the
crypto environment.
Argentina Central Bank chooses RSK Technology for trials for the Central bank
settlement layer.
On 16 April 2020 IOV Labs announced it had created a proof-of-concept, for a
permissioned blockchain network, based on the RSK Smart Network, in
conjunction with the Argentina Central Bank and major commercial banks in
Argentina including Santander and BBVA.
This proof of concept is focused on implementing a decentralized platform
powered by RSK technology that would allow for end-to-end traceability of
account debit claims. The full announcement and briefing from IOV Labs can be
seen here:
Argentina's Central Bank is promoting a proof of concept based on Blockchain
technology. [2]
https://iovlabs.org/press/banco-central-de-la-republica-argentina-impulsa-una-
prueba-de-concepto-basada-en-tecnologia-blockchain.html [2]
Eddy Travia, CEO comments: "The RIF on Chain DeFi platform is a great example
of innovation within a token ecosystem. Whilst several RIF services are being
developed by IOV Labs with RIF tokens as the medium of exchange, 'RIF on
Chain' represents a great live opportunity for RIF token holders and we expect
this to have a positive impact on global awareness as a driver for adoption of
the RSK Network and the RIF digital token. Likewise, the proof-of-concept
created for a group comprising the Argentina Central Bank and major commercial
banks in Argentina demonstrates that IOV Labs is leveraging the RSK network
and the expertise of its talented team in smart contract and blockchain
technologies to contribute to the improvement of nationwide financial systems.
"As we announced on 3 April 2020, Coinsilium is in the process of concluding
an agreement with IOV Labs which will see the establishment of a
Coinsilium-IOV Labs joint venture ('JV') company in Singapore. The objective
of the JV company will be to promote and commercialise RSK's products,
services and technologies in the Asian markets to corporations, entrepreneurs,
governments and NGOs. Another key objective will be to promote the adoption in
the region of the RIF token which powers the ecosystem of solutions developed
by RSK, their partners and independent developers around the world.
"We look forward to providing the market with further details of the JV once
concluded, together with some context as to the significant commercial
opportunities we see in the region"
Coinsilium to host Barbarian Investors online Panel Session. "Bitcoin in a
Post COVID19 World"
Coinsilium is pleased to announce that it will be hosting the forthcoming
Barbarian Investors Webinar which will be held online on 7th May 14:30 (BST).
This will include a panel session which will be moderated by Coinsilium
Chairman Malcolm Palle and will feature a line-up of industry experts
including Coinsilium CEO Eddy Travia. The Webinar is free to access for those
wishing to attend, full details together with registration instructions
details are provided via the link below:
https://www.eventbrite.co.uk/e/webinar-what-next-for-bitcoin-in-a-post-covid19
-world-crypto-market-insights-with-leading-industry-tickets-38222506546 [3]
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
(AQSE Growth Market Corporate Adviser)
SI Capital Limited +44 (0) 1483 413 500
Nick Emerson
(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 leading blockchain projects such as
RSK/IOV Labs, Indorse and Blox.
Coinsilium shares are traded on AQSE Growth Market, the primary market for
unlisted securities operated by Aquis Stock Exchange, a Recognised Investment
Exchange under the Financial Services and Markets Act 2000.
For further information please visit [4]www.coinsilium.com [5] or follow
@CoinsiliumGroup on Twitter
About IOV Labs
IOV Labs builds low-cost, highly secure, easy-to-use platforms for the new
global economy. Harnessing the benefits of Bitcoin with a suite of tools to
create and protect growth, we're planting the seeds for global financial
freedom.
RSK, the first smart contract platform secured by the Bitcoin network, is
transforming the way businesses are conceived, designed, and built. Its
complementary platform, RSK Infrastructure Framework Open Standard (RIF OS),
takes these technologies to scale, simplifying the use of decentralized
infrastructure for any traditional or Blockchain developer, organization, or
innovator.
With help from IOV Labs platforms, people everywhere will have the power to
create digital identities, build reputations, establish and enforce
agreements, and engage in commercial transactions without intermediaries.
Now everyone has the chance to participate in a new economy for our new
Internet age. That's why we call it the Internet of Value.
For further information please visit [6]www.iovlabs.org [6] and [7]www.rsk.co/
[7]
ISIN: VGG225641015
Category Code: MSCM
TIDM: COIN
Sequence No.: 60971
EQS News ID: 1032141
End of Announcement EQS News Service
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=9980d072f3e60a03105255e9d6c0fc83&application_id=1032141&site_id=vwd&application_name=news
(MORE TO FOLLOW) Dow Jones Newswires
April 29, 2020 02:00 ET (06:00 GMT)
