Coinsilium Group Limited (COIN) Coinsilium Group Limited:
Investee Company Update 23-Dec-2022 / 07:00 GMT/BST Dissemination
of a Regulatory Announcement that contains inside information in
accordance with the Market Abuse Regulation (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: Investee Company Update
London UK, 23 December 2022, Coinsilium Group Limited (AQSE:
COIN) (OTCQB: CINGF), the Web3 investor, advisor, and venture
builder is pleased report that it has received a shareholder update
from investment portfolio company Greengage Global Ltd
("Greengage"), the content of which has been reproduced below
verbatim.
Details of Investment
Coinsilium's investment in Greengage was completed on 7
September 2021 and conducted via Coinsilium's wholly owned
Gibraltar registered subsidiary, Seedcoin Limited ("Seedcoin"),
whereby Seedcoin invested GBP200,000 in convertible notes and has
also taken GBP300,000 equity in a secondary stake sale that values
Greengage at GBP27.3m.
Coinsilium CEO Eddy Travia commented: "We are delighted to note
the solid progress Greengage has reported in its most recent
shareholder update. Greengage aims to become a next generation
digital merchant bank and today's news of the imminent launch of
its E-money account services can be seen as a major milestone on
that journey. Further details on Coinsilium's investment in
Greengage and our other investments and advisory clients can be
found on the Coinsilium website:
https://coinsilium.com/investors/presentations
Greengage Investor Update
21.12.22
Dear Shareholder, Thank you for your ongoing support for
Greengage, in what has been an eventful year for us (and for the
crypto industry overall)! I'm delighted to be sharing some good
news about our developments with you, including most importantly
our upcoming launch of e-money account services in the New Year: 1.
Go-live e-money account services (January 2023): We've passed our
audit from Modulr on the 14th Decemberand will be launching fiat
(GBP, EUR) payments with sort codes, IBANs, and Visa cards for
friends and familyaccounts in January. This is a very big launch
for us and we have invested considerable time and effort in
thesystems and controls to run an e-money business, including
building our own Software-as-a-Service ("SaaS")technology largely
on Salesforce and Microsoft Azure, as well as working with partners
on key components such ascompliance. By way of reminder on the
difference between full banking and e-money account services, we
cannot takedeposits and pay interest, and also we cannot engage in
lending activities or issuing credit. A good description onthe
differences is available here: Emoney and what you need to know |
ICAEW 2. Client onboarding pipeline: We anticipate a healthy flow
of new clients from the relationships we havebuilt up over the past
years, with direct prospect clients as well as with partners
including accountants andsolicitors. We are charging GBP5k p.a.
which is materially lower than some competitors for "crypto
friendly" fiatpayments services, which we can afford given our
diversified revenues across SaaS technology services and our
B2Bfunding platform business (across traditional and digital). We
would very much welcome client referrals whereappropriate -
primarily we are focusing on crypto companies, SMEs, and
transactional business from high net worthindividuals. Our e-money
services approach has been very much informed based on our findings
from a surveyconducted with 70 prospective clients earlier this
year: Greengage Banking Services Survey Findings 3. Web 3 /
metaverse: Greengage has always been forward looking. Our core
"digital merchant banking" visionhas centred around the idea of
working with partner balance sheets to give funding to our clients,
not just fromour own monies, but to offer a wide range of products
and services with partners. As "Web 3" has evolved -including the
idea of democratising finance - Greengage has responded and our B2B
funding platform has grownaccordingly with new services. We're also
looking to engage in the metaverse with a view to keep our ears to
theground on developments and to meet new prospect clients, and
have our first metaverse branch launch planned in theNew Year (see
demo here, which only works on a pc for now: Eldora - GreenGage
(six-pounds.com). 4. In the press: Since July, we have achieved
some excellent coverage, mainly attributed to GreengageBanking
Services Survey Findings, which was subsequently promoted in
Innovate Finance's enewsletter to 12ksubscribers twice, two blogs,
an episode on The Gage and numerous socials posts, and coverage
from joining Technation, announcing our partnership with Eldora and
publishing Greengage's Crypto Glossary. We featured in
sevenarticles (e.g. Will the UK lead the way in embracing crypto
assets and blockchain?', Eldora's blog on ourpartnership, I
featured on the Citywealth Leaders List) and published seven blogs
(e.g. 'The Challenges of CryptoCompliance', 'Entrepreneurship and
Diversity in the UK', Blog 1 and 2 of Greengage Banking Services
SurveyFindings) and released five more The Gage podcasts - one
featuring Lord Chris Holmes. Also we attended 39 events(e.g. APPG's
Westminster Hall Debate, UK Cryptoasset Business Council
Parliamentary winter reception, InnovateFinance 'Fintech as a Force
for Good' Summit) and six webinars of which I was a panellist at
eight of these events/webinars (e.g. Zebu Live, Digital
Transformation in Financial Services Summit webinar via Bright
Talk, I featuredon Harrington Starr's FinTech Focus TV to discuss
'Creating the Digital Merchant Bank'). 5. Financials: We have
generated another GBP1m+ in revenue this year across our SaaS
technology services andplatform business lines. We anticipate a
healthy stream of new e-money account services revenues and are
continuingdiscussions with potential investors to fund growth. 6.
Crypto markets: Greengage has zero FTX exposure, and as we focus on
"picks and shovels" andinfrastructure rather than the more
speculative end of the crypto markets we have been largely
insulated from someof the media headlines around crypto volatility.
We anticipate that our relatively competitive e-money servicesprice
point at GBP5k p.a. will position us well to service crypto company
clients at the "base of the pyramid" whichare building interesting
solutions on blockchain, and through which we can build
relationships to helpcross-fertilise our technology services and
platform businesses. 7. SaaS technology: Our first SaaS technology
standalone app to support screening against the corporate
andindividual Telephone Preference Service, which is designed as an
in-built Salesforce widget which Greengage hasbeen using for some
time, is planned to launch in the New Year. We're looking to
increase our suite of apps infuture and this is very much a pilot,
and will extend our recurring technology revenues. 8. Website
refresh: We've changed name from DAG to Greengage now some time
ago, and we will be looking toenhance further the Greengage brand
with a new website also going live in the New Year. We think the
new design ismore visually intuitive, and better speaks to our role
bridging the traditional world of finance with newtechnologies. We
look forward to sharing the results with you in due course.
On behalf of Greengage, we wish you and your families a very
happy holidays and a joyous New Year ahead. We wouldn't have been
able to achieve any of the above without your backing, and we look
forward very much to building on this success in 2023 with our big
launch!
ENDS
The Directors of Coinsilium Group Limited take responsibility
for this announcement.
Coinsilium Group Limited +350 2000 8223
Malcolm Palle, Executive Chairman +44 (0) 7785 381 089
Eddy Travia, Chief Executive www.coinsilium.com
Peterhouse Capital Limited
Guy Miller / Mark Anwyl +44 (0) 207 469 0930
(AQSE Growth Market Corporate Adviser)
SI Capital Limited
Nick Emerson +44 (0) 1483 413 500
(Broker)
Notes to Editor
About Coinsilium
Coinsilium is a focused Web3 Investor, Advisor and Venture
Builder based in Gibraltar, a pre-eminent global regulatory
jurisdiction and a leading hub for innovative financial technology.
In 2015, Coinsilium became the first blockchain company to IPO. The
Company has evolved to develop revenue-generating strategic
advisory services and is a highly regarded innovator with proven
technological and commercial expertise and development capabilities
in the Web3 arena and within Open Finance.
Coinsilium has developed an array of commercial partnerships and
joint ventures around the world to support its development
capabilities, giving it access to best-in-class tech experts, a
strong network, and asserting its profound industry profile. It has
also partnered with blockchain technology experts Indorse to create
Nifty Labs, a Web3 and Non-Fungible Token ('NFT') technology
development studio in Gibraltar.
Coinsilium shares are traded on the AQSE Growth Market in
London, under the ticker symbol "COIN", and on the OTCQB Venture
Market in the United States under the ticker symbol "CINGF".
-----------------------------------------------------------------------------------------------------------------------
ISIN: VGG225641015
Category Code: PFU
TIDM: COIN
Sequence No.: 210795
EQS News ID: 1520337
End of Announcement EQS News Service
=------------------------------------------------------------------------------------
Image link:
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1520337&application_name=news
(END) Dow Jones Newswires
December 23, 2022 02:00 ET (07:00 GMT)
Coinsilium (AQSE:COIN)
Historical Stock Chart
From Apr 2024 to May 2024
Coinsilium (AQSE:COIN)
Historical Stock Chart
From May 2023 to May 2024