Coinsilium Group – FinTech company engaged in the implementation of blockchain technology products and services which is based in London. It is a company vertically integrated into the blockchain with a decentralized network technology space. Coinsilium contributes to the creation and implementation of blockchain technology products and services from its headquarters in the global financial center of London. CEO of the company is Malcolm Pallé. Co-Founder is Eddy Travia.
Also, Coinsilium provides corporate and technical consulting, as well as licensed blockchain training services.
Coinsilium Group was founded in 2014 and has assembled a portfolio of 11 fintech companies working in the blockchain field. Among them are SatoshiPay, a nano-payer for online content, a Mangr blockchain-based trading platform, Fuzo digital wallet, Factom blockchain data management system, Rivetz security system developer, Neuroware blockchain API provider, and payment processor and analytic company CoinSimple.
Entering the ISDX exchange
Coinsilium, an early-stage investment company in blockchain startups, entered the ICAP Securities and Derivatives Exchange (ISDX) London Stock Exchange on the emerging markets on December 24, 2015.
To this end, Coinsilium (ticker “COIN”) issued 10 million new ordinary shares for 10 pence per share, which brought it a gross income of £ 1 million. At the time of listing, Coinsilium had 69,793,500 ordinary shares, which match to the market capitalization of £ 6.98 million.
IPO on the London Stock Exchange
On July 16, 2015, it became known that a London-based startup Coinsilium investing in blockchain technology intends to conduct an IPO on the London Stock Exchange section for young companies with low capitalization, becoming the first public company whose activities are related to the basic technology of bitcoin.
The fintech company Coinsilium planned to enter the stock exchange in the first half of August under the ticker symbol COIN. Coinsilium invested in startups that develop and implement blockchain technology in such areas as digital wallets, payments, security issues, as well as consulting companies that help financial institutions interested in innovations better understand the features of implementing distributed registries in their work processes.
The company planned to attract at least £ 3 million from the placement, which will be aimed at further investments in later rounds of financing and an increase in participation in some of the 11 projects in which investments were made earlier.
“We plan to become a major player in the industry and contribute to its further growth,” said CEO Eddie Travia. In his opinion, an IPO will be better than private investment, and will also give legitimacy to the young technology.
In August 2017, it became known that the British blockchain venture investment fund, Coinsilium Group Limited, confirmed the details of the transaction, in which it sold the entire block of shares of SatoshiPay to Blue Star Capital. A total of 2,133 SatoshiPay shares were sold for € 340 (approximately $ 493.48) per share for a total of € 725,220 (approximately $ 866,622.2).
Satoshipay is a micropayment operator founded in 2014. The company also developed a platform for two-way monetization of content. SatoshiPay was funded by Coinsilium and its related investor network in 2015. Coinsilium invested € 200,000 - 55% of the initial capital, and affiliated investors – the remaining 45%. Coinsilium owned a 14.5% stake in the company, which was sold to Blue Star Capital, a UK-based new technology investment firm.
The transaction took place shortly after several significant changes in the SatoshiPay service, including a recent agreement with PayPal, which led to an increase in the volume of commissions for bitcoin transactions. Also, the company agreed with the IOTA network, which, according to Blue Star Capital in its press release, “provides transactions without fees and has no limit on the number of transactions per second.”
The transaction amount exceeded the amount of Coinsilium’s initial investments in 2015 by 362.6%. Besides, Coinsilium received 85 million warrants for new ordinary shares of Blue Star, of which 42.5 million can be sold at 0.6 pence per ordinary share, and the remaining 42.5 million at 0.8 pence per ordinary share over three years from the date of the transaction.
Eddie Travia, CEO of Coinsilium, said: “Coinsilium is pleased to announce the successful exit from the company in which it invested less than two years after the start of operations, while significantly increasing the initial value of its assets ... SatoshiPay turned out to be an outstanding investment by Coinsilium, and with the 85 million warrants we received as a result of the transaction, we will continue to maintain a significant degree of participation in SatoshiPay’s continued success.”
The Consilium’s team consists of the following members:
- Eddy Travia – chief executive officer/co-founder;
- Malcolm Palle – executive chairman/co-founder;
- Tony Sarin – non-executive director;
- Craig Brown – non-executive director.