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WKN: A2ACHP ISIN: VGG225641015 Ticker-Symbol: 5CT 
Stuttgart
11.06.21
14:14 Uhr
0,082 Euro
-0,018
-18,00 %
1-Jahres-Chart
COINSILIUM GROUP LIMITED Chart 1 Jahr
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COINSILIUM GROUP LIMITED 5-Tage-Chart
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0,1700,21206.04.
Dow Jones News
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Coinsilium Group Limited: IOV Labs Asia signs MoU with RedFOX Labs

Coinsilium Group Limited (COIN) 
Coinsilium Group Limited: IOV Labs Asia signs MoU with RedFOX Labs 
 
18-Aug-2020 / 08:13 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") 
 
        Coinsilium Group Limited: Joint Venture with IOV Labs Update 
 
  IOV Labs Asia signs MoU with RedFOX Labs to build fast scaling internet 
        businesses on and for the RSK Blockchain 
 
       London, UK, 18 August 2020 - Coinsilium Group Limited (AQSE:COIN) the 
Blockchain, DeFi and Crypto Finance venture operator, is pleased to announce 
         that its joint venture company ('JVC') with IOV Labs Ltd ('IOV') in 
Singapore ('IOV Asia') has signed a Memorandum of Understanding ('MoU') with 
      Vietnam-based RedFOX Labs Joint Stock Company ('RedFOX') to build fast 
  scaling internet businesses on and for the RSK Blockchain in the Southeast 
                 Asian region. 
 
Background 
 
On 8 July 2020, Coinsilium announced the execution of a Joint Venture 
agreement with IOV to establish a 50/50 Joint Venture Company in Singapore, 
IOV Asia, to promote and commercialise RSK's products, services and 
technologies in the Asian markets. Eddy Travia, Coinsilium's Chief 
Executive, has also been appointed as director of IOV Asia. The MoU with 
RedFOX represents IOV Asia's first commercial and technical agreement. 
 
RedFOX is a blockchain venture builder based in Vietnam, that identi?es and 
replicates successful pure play business models with a focus on the 
Southeast Asian markets. RedFOX works to build, launch and scale high growth 
ventures in Southeast Asia. Its focus is to unlock the true market potential 
of the digital economy for high consumer demand services such as e-commerce, 
e-media, e-travel and e-sports/gaming. 
 
IOV Asia - RedFOX MoU 
 
The MoU is expected to lead to formal commercial and technical agreements 
whereby RedFOX will migrate its applications to the RSK blockchain and 
become a hub for RSK blockchain technology expertise in Vietnam under the 
IOV Asia JV umbrella. 
 
This will also enable IOV Asia to showcase the attributes and benefits of 
RSK technology to potential clients in the region. 
 
Under the terms of the MoU, IOV Asia will assist RedFOX with technical 
integration, technical training and joint marketing efforts in the region. 
In addition to making its applications compatible with RSK technology and 
migrating those onto the RSK blockchain, RedFOX also aims to become a hub to 
educate, promote and commercialise RSK and RSK Infrastructure Framework 
(RIF) solutions in Vietnam. 
 
Coinsilium Chief Executive Eddy Travia commented: "We are excited to be able 
to announce our first agreement under the banner of IOV Asia, and a new 
partner in Southeast Asia. RedFOX brings its know-how and expertise in 
hyper-growth digital applications with a team led by Ben Fairbank, a former 
C-Level executive for global brands such as Virgin, Ooredoo and Grab. Ben 
has significant experience in building and growing businesses in fast 
growing markets. 
 
Through IOV Asia, we look forward to working with the whole RedFOX team and 
we are confident this agreement is the first step of a win-win relationship 
between RedFOX, IOV and Coinsilium which will provide us with an effective 
springboard into the Vietnamese market. 
 
Vietnam is one of the fastest growing markets in e-commerce among Southeast 
Asian nations with a 49% compounded annual growth rate in e-commerce gross 
merchandise value between 2015 and 2019, increasing from $0.4Bn in 2015 to 
$23Bn in 2019 (1). We also see this partnership as a perfect fit for 
Coinsilium's new DeFi and Crypto Finance strategy as RedFOX has the skills 
and network to deploy RSK-powered Open Finance solutions in the region, 
which has the potential to accelerate the commercial development of IOV 
Asia." 
 
    Ben Fairbank, CEO, and Co-founder of RedFOX Labs commented "As a venture 
     builder focused on high growth ventures in the emerging Southeast Asian 
      emerging markets, the ability to move with speed is imperative. We are 
 thrilled to announce the collaboration with IOV Asia to build together fast 
                 scaling internet businesses on and for the RSK blockchain. 
 
As a result of the agreement, RedFOX Labs will be able to scale faster, have 
   access to some amazing technology and tools, and to deploy more pure-play 
  businesses focusing on the fastest growing sectors of the digital economy. 
 
      Due to the unprecedented growth in the region, the requirement for the 
             companies we build is beyond our capacity alone, therefore this 
     collaboration allows both parties to capitalise on the opportunities in 
 front of us. The experience of both teams, the regional knowledge, and tech 
                 resources combine to form a formidable union." 
 
IOV Labs Chief Executive Diego Gutierrez Zaldivar commented: "Southeast Asia 
  is one of the regions in the world where we expect blockchain technologies 
       to make a significant, positive impact. We are very excited about the 
  partnership with REDFOX Labs as it will enable to boost the RSK Blockchain 
and RSK Infrastructure Framework (RIF) ecosystem in the region, accelerating 
    adoption of the technology in Vietnam, a key market within this region". 
 
(1) Source: Google & Temasek / Bain, e-Conomy SEA 2019 
https://www.bain.com/insights/e-conomy-sea-2019/ [1] 
 
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 focused Blockchain, DeFi and Crypto Finance venture 
operator. As the first ever IPO of a blockchain company in 2015, Coinsilium 
has harnessed its experience and wide-ranging network to invest in leading 
blockchain projects such as RSK/IOV Labs, Indorse and Blox. 
 
In July 2020 Coinsilium executed an agreement with global blockchain 
protocol company IOV Labs, to establish a 50/50 Joint Venture Company in 
Singapore to promote and commercialise RSK's products, services and 
technologies in the Asian markets and to promote the adoption in the region 
of the RIF token which powers the ecosystem of solutions developed by RSK, 
their partners and developers around the world. 
 
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 [2]www.coinsilium.com [2] or follow 
@CoinsiliumGroup on Twitter 
 
About RedFOX Labs 
 
RedFOX is a blockchain venture builder based in Vietnam, that identi?es and 
replicates successful pure play business models for the Southeast Asian 
markets. RedFOX works to build, launch and scale high growth ventures in 
Southeast Asia. Its focus is to unlock the true market potential of the 
digital economy for high consumer demand services such as e-commerce, 
e-media, e-travel and e-sports/gaming. RedFOX builds companies that promote 
Access, Adoption and Application for the Internet Economy. The RedFOX team 
innovates with emerging technologies, differentiates with superior Customer 
Experience and Value, and maintains a relentless focus on Digital Inclusion. 
 
For further information please visit: https://redfoxlabs.io/ [3] 
 
About IOV Labs 
 
IOV is 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 is currently developing various implementations of the RSK 
Smart Contract Network, RIF and Taringa's platforms. The RSK Network is the 
most secure Smart Contract platform in the world, as it relies on Bitcoin's 
hash power. RIF is 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 and Taringa! - Latin America's largest Spanish speaking 
social network with 30 million users and 1,000 active online communities - 
through the integration with Bitcoin, RSK and RIF will help shape the 
Internet of the Future, which intends to confer on individuals full control 
of their information and value. 
 
For further information please visit: www.iovlabs.org [4] ,www.rsk.co [5] , 
www.rifos.org [6] www.taringa.net [7] 
 
ISIN:          VGG225641015 
Category Code: MSCM 
TIDM:          COIN 
Sequence No.:  82300 
EQS News ID:   1119777 
 
End of Announcement EQS News Service 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=fa7f318f565f97901fc8616522cabbfb&application_id=1119777&site_id=vwd&application_name=news 
2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=e82019f83af6462d0ad455a3201afcc3&application_id=1119777&site_id=vwd&application_name=news 
3: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=217f5a89beb9d82d0cd6faf5f5d4a60b&application_id=1119777&site_id=vwd&application_name=news 
4: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=4a9dab78ccd10774ce3e06f78dcb6da9&application_id=1119777&site_id=vwd&application_name=news 
5: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=8089db3620d2f4cdfc321117c293b90d&application_id=1119777&site_id=vwd&application_name=news 
6: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=4bd9c323e527d2decdc5c7f066c25b51&application_id=1119777&site_id=vwd&application_name=news 
7: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=3f141365bff3d5f2978757d408d04326&application_id=1119777&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

August 18, 2020 03:14 ET (07:14 GMT)

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© 2020 Dow Jones News
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