Coinsilium Group Limited (LON:COIN) said since a previous update on December 21, the value of its fully vested cryptocurrency and token treasury, excluding cash at bank, has increased by around 40% to US$1.5mln thanks to what it said was “ongoing buoyancy in the global cryptocurrency markets”.
The blockchain, and crypto finance venture firm also said that in addition to its treasury, there is a further US$163,890 denominated in RIF tokens which it will vest monthly over the coming 22 months.
The firm added that the value of its fully vested and vesting RIF tokens is continuing to grow, helped by the RIF token’s debut listing on crypto exchange Binance.com on January 7, and that the token’s value has increased 45% in the last month to around US$0.185.
Meanwhile, Coinsilium said it expects its entry into the digital asset and non-fungible token (NFT) market to provide “ample opportunities to generate future cryptocurrency denominated revenue streams”, adding that its first NFT project, the Gibraltar Crypto Stamp Digital Collectible, is due to go live in the second quarter of 2021 and that discussions around other potential NFT project opportunities are at “various stages of development”.
In the wider market, the company said a “growing number of US institutions, including asset managers, pension funds and insurance companies starting to allocate Bitcoin into their treasury as a long duration asset”, which in turn is “fuelling a strong growth cycle in the overall blockchain and cryptocurrency sector” and providing “highly favourable market conditions” that will support its growth and development.
The firm also said that its chief executive Eddy Travia and Chairman Malcolm Palle will be participating in a StartupGrind webinar which will be hosted from Gibraltar on January 28, with investors able to register from www.startupgrind.com/e/mpe7pc/.