Coinsilium Group Limited: Advisory Agreement Signed with Global Trade Exchange Platform LC Lite
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Coinsilium Group Limited (COIN)
COINSILIUM GROUP LIMITED ("Coinsilium" or the "Company") Coinsilium Group Limited: Strategic Advisory Agreement Signed with Global Trade Exchange Platform LC Lite London, UK, 20 February 2024 - Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Web3 advisor, venture builder and investor is pleased to announce it has signed an agreement with global trade exchange platform LC Lite (“LC Lite”) for strategic advisory services in respect of their forthcoming token launch. LC Lite LC Lite has been recently acquired by Incomlend, a regulated global invoice finance marketplace for SMEs with licenses to operate in Singapore and in Hong Kong. Incomlend was founded in 2016 to address the US$2.5 trillion global trade finance gap and was named one of the Top 15 Fastest Growing Companies in Singapore in 2022. LC Lite aims to bring Web3 decentralised technology to Incomlend, with improved marketplace liquidity, multi-currency solutions for cross-border export financing and a broad usage of stablecoins. LC Lite will also be well positioned to capitalise on emerging business opportunities from within the fast-growing digital asset market. Strategic Advisory Services The scope of the work to be undertaken by Coinsilium will include advising LC Lite on its project token economics (Tokenomics) ahead of its planned token launch, slated for Q4 2024. Additionally, Coinsilium will facilitate introductions for LC Lite to potential partners drawn from Coinsilium’s extensive network of major service providers and cryptocurrency firms. Advisory service terms pertaining to advisory engagements are commercially sensitive and subject to mutual confidentiality agreements. Typically, an agreement will include a ‘sign on’ payment and a final success payment. The success payment will usually be a fixed fee, denominated in cryptocurrencies such as Bitcoin and Ethereum or in project digital tokens and will be payable on the successful completion of a project’s Token Generating Event (“TGE”). While fees may involve considerable amounts, since they are payable in cryptocurrencies, the inherent volatility of these digital currencies may lead to fluctuations in the total fee valuation. Note that this agreement is unconnected with the previous advisory agreement with LC Lite announced on 1.11.18 and reflects the long-standing relationship between Coinsilium and LC Lite. Eddy Travia, Chief Executive of Coinsilium, commented: “We are delighted to be working with LC Lite on this exciting enterprise token project, supported by established global invoice finance marketplace Incomlend. We believe that LC Lite holds the potential to positively impact the complex processes currently employed in the multi-trillion-dollar market for trade finance and real-world assets, while providing promising new yield opportunities for crypto traders. The timing of this new advisory agreement reflects the marked improvement we are seeing in the global cryptocurrency markets and growing strength in demand for Coinsilium’s advisory services. We expect this trend to continue throughout 2024 as the cryptocurrency markets recover and more blockchain projects emerge with the need for the type of expertise Coinsilium can offer.” Jean-Charles Devin, Co-founder and director of LC LITE, commented: “We are thrilled to embark on this journey with Coinsilium as an advisor for LC Lite, which strengthens our long-standing collaboration with them. Coinsilium's esteemed reputation and expertise in the blockchain and cryptocurrency space makes them an invaluable partner as we navigate the exciting world of digital finance, leveraging their insights and guidance to drive innovation and success for LC Lite. Together, we look forward to building a strong foundation for sustained growth, empowering businesses with streamlined cross-border payment solutions for real-world assets.” The Directors of Coinsilium Group Limited take responsibility for this announcement.
Notes to Editor About Coinsilium Coinsilium is an advisor, venture builder and investor at the forefront of Web3 convergence. The Company invests in and accelerates Web3 and AI powered technology start-ups whilst supporting their development and commercialisation. Coinsilium also provides strategic advisory services to start-ups looking to issue tokens through token generation events. Coinsilium’s wholly owned subsidiary Coinsilium (Gibraltar) Limited is the Company’s operational hub in Gibraltar. Coinsilium shares are traded on the Aquis Growth Market in London, under the ticker symbol "COIN", and on the OTCQB Venture Market in the United States under the ticker symbol "CINGF”. 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. |
| ISIN: | VGG225641015 |
| Category Code: | MSCM |
| TIDM: | COIN |
| Sequence No.: | 304897 |
| EQS News ID: | 1841005 |
| End of Announcement | EQS News Service |
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