Coinsilium on a growth trajectory in crypto and blockchain space

Coinsilium is a focused Blockchain, Open Finance and Crypto Finance venture builder.

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.

Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) updated investors on its crypto-asset treasury holdings, which today stood with a value of US$4.22mln up some 113% since the prior update at the time of the group’s interim results in September.

The company, in a stock market statement, noted that its crypto-asset holdings are predominantly denominated in highly liquid cryptocurrencies – with the two largest cryptos, Bitcoin and Ethereum, representing some 82.8% of the fully vested assets.

“The ongoing strength in the cryptocurrency markets continues to be reflected in the robust growth of our crypto-asset treasury holdings and significantly bolsters our cash position,” said executive chair Malcolm Palle.

“As investors are aware, most of our cryptocurrency reserves have been derived from revenues originally generated from our advisory work and from bonuses associated with the investments we have made. As our venture and investment activities ramp up, our focus now is to ensure that these resources continue to be managed wisely and in the most effective way to optimise the company’s growth trajectory.”

Coinsilium PLC saw its interim profits soar as its portfolio of blockchain, DeFi and cryptofinance start-ups jumped in value alongside a surge of investor interest in cryptocurrencies and NFTs (non-fungible tokens).

Profits in the six months ended June 2021 jumped to GBP326,000 (2020: GBP27,000) as the value of its financial assets leapt by almost GBP800,000 to GBP2.94mln, while the value of its current assets including cryptocurrencies and tokens rose to GBP1.2mln from GBP0.95mln.

Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) said its subsidiary Nifty Labs and investee-company Indorse launched the NFT Minter technology onto the RSK Blockchain Mainnet.

The minter, which creates NFT assets, is a core component of Nifty Labs’ NFT Marketplace which continues to be developed. Its first NFT creation is a portrait of Diego Gutierrez Zaldivar, chief executive of IOV Labs, to mark his induction in the Crypto Hall of Fame, in June 2021.

Coinsilium Group Limited’s (LON:COIN) Eddy Travia joins Proactive London to discuss what’s been driving their profits higher.

Profits in the six months ended June 2021 jumped to GBP326,000 (2020: GBP27,000) as the value of its financial assets leapt by almost GBP800,000 to GBP2.94mln, while the value of its current assets including cryptocurrencies and tokens rose to GBP1.2mln from GBP0.95mln.

Cash at the period end stood at GBP1.87mln after two funding rounds. The firm was also admitted to the Apex Segment of the AQSE Growth Market, a segment intended for larger, more established businesses on the exchange.