Coinsilium Group Limited (COIN)
Coinsilium Group Limited: New Advisory Client
18-May-2020 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
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The issuer is solely responsible for the content of this announcement.
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium: New Advisory Client
Coinsilium to Advise Kesholabs, An African Venture Builder and Development
Studio
London, UK, 18 May 2020 - Coinsilium Group Limited (AQSE:COIN), the blockchain
technology venture builder, advisor and investor, that finances and manages
the development of early-stage blockchain technology companies, is pleased to
announce its appointment as an Advisor to Kesholabs Limited ("Kesholabs").
Highlights:
- Coinsilium to provide strategic advisory services to Kesholabs, a
Kenya-based venture builder and development studio whose primary focus is in
blockchain-driven innovation and decentralised open finance solutions
- Services to be provided by Coinsilium's Advisory Services division. Eddy
Travia, Coinsilium's Chief Executive, to join the Kesholabs Board of
Advisors
- Kesholabs is led by Nhial Majok, formerly Tech Lead at IBM Australia and
pioneer blockchain entrepreneur
- Advisory services provided include review of and recommendations on
business model, business and marketing plan, connections to potential
blockchain technology partners and investors, and strategic advice on
fundraising options and business expansion
- The financial terms pertaining to the strategic advisory engagement are
commercially sensitive and subject to confidentiality agreement. Notes below
provide guidance as to Coinsilium's advisory service terms of business
Kesholabs - East Africa Based Blockchain Development Studio
To date, the Kesholabs team has been developing three applications, all of
which are at the MVP stage, looking to launch in the East African market
within the next 3 to 12 months. These three applications are:
Pesabase - a mobile payment/remittance application currently running on the
Celo testnet (https://celo.org/ [1]). The Pesabase platform combines
stablecoin and mobile money and will have the advantage of ensuring
cost-effective near instantaneous remittances and payments.
Bithela - a platform solution that plugs into global cryptocurrency liquidity
pools and allows users in various countries to deposit money, trade digital
tokens and easily withdraw funds.
Vitasphere - an e-sports platform allowing African video game players to
connect online and compete for prizes in tournaments.
Last month, Kesholabs was selected among the 18 finalists in Celo's blockchain
accelerator program ('Celocamp') out of 251 applying teams from 60 different
countries. Celo is an open platform that makes financial tools for mobile
devices and is partly funded by Andreessen Horowitz and Polychain Capital.
Kesholabs acceptance into Celocamp to build out its Pesabase product is
recognition of its unique position in having built a team that understands the
African mobile money/remittance market and the benefits that blockchain
technology can bring. The Kesholabs team is working to build bridges between
blockchain and mobile money wallets such as Mpesa.
There are several strong indicators which point to a promising market for
cryptocurrency services in Africa: over the last two years, three of the top
five Google searches for 'bitcoin' have emanated from countries in Africa.
Recent peer-to-peer cryptocurrency trading volumes have been the highest ever
in sub-Saharan Africa and new cryptocurrency exchange sign-ups have seen sharp
increases.
As part of Kesholabs recently launched awareness campaign, Coinsilium CEO Eddy
Travia and Kesholabs founder and CEO Nhial Majokhave co-authored an article on
the African Cryptocurrency opportunity which has now been published on
Medium.com.
The post 'Is Africa the Land of Crypto Opportunities?' can be viewed via this
link [2].
https://medium.com/@startupeddy/is-africa-the-land-of-crypto-opportunities-ebe
917108916 [2]
Coinsilium's Chief Executive, Eddy Travia, commented: "We are delighted to now
be able to officially announce this advisory agreement with Kesholabs. Having
known and worked with its talented founder and CEO Nhial Majok for some time,
we share a common vision of the unique and promising opportunities the African
market holds for the development of blockchain projects and the adoption of
cryptocurrencies. We are also confident that Kesholabs has the right
combination of management skills, experience and connections to become a major
industry force in the region.
We see this new advisory agreement, the first to be announced in 2020, as an
encouraging sign of improving sentiment towards the blockchain technology
sector, driven in the main by the strengthening global cryptocurrency markets.
Coinsilium adopts a highly selective policy with regards to the advisory work
it undertakes, opting in all cases for quality over quantity. Kesholabs'
highly ambitious project soundly meets our criteria and we look forward to
providing the market with updates on further developments."
Advisory Service Terms
Terms pertaining to advisory engagements are commercially sensitive and
subject to confidentiality agreements. As a rule, service fees are made up of
monthly retainer fees and a final success fee; the latter usually being a
fixed fee or single digit percentage of the global proceeds of project
funding, payable on its successful completion. Whilst these revenues can be
meaningful, fees are usually denominated or payable in cryptocurrencies and
are therefore often subject to the high levels of volatility witnessed in this
industry.
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, Chief Executive
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 Editor
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 the 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 www.coinsilium.com [3] or follow
@CoinsiliumGroup on Twitter
About Kesholabs
Kesholabs is a Kenya-based venture builder and development studio whose
primary focus is in blockchain-driven innovation and decentralised open
finance solutions. Kesholabs aims to develop and commercialise blockchain and
cryptocurrency payment applications for the African consumer market.
Recent Coin Telegraph article on Celocamp finalists including Kesholabs:
https://cointelegraph.com/news/celo-developer-bootcamp-announces-18-finalists-
from-15-countries [4]
For further information about Kesholabs please visit:
https://www.kesholabs.com/ [5]
ISIN: VGG225641015
Category Code: MSCM
TIDM: COIN
Sequence No.: 64211
EQS News ID: 1048691
End of Announcement EQS News Service
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(END) Dow Jones Newswires
May 18, 2020 02:00 ET (06:00 GMT)
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