Coinsilium pivots to focus on crypto finance

As a company, is exceptionally well positioned with a robust financial model and an ability to leverage shareholder returns at an exciting time in the blockchain industry

Coinsilium CEO Eddy Travia

What does

Group Limited () pivoted recently after a strategic review to capitalise on what it said were “substantial opportunities in the burgeoning decentralised finance (DeFi) and crypto finance sector” and to realign itself to participate in its recently launched IOV joint venture in Singapore.

How it’s doing

In its results statement covering the first half of 2020, a period when the company prepared to make the transition from an investor in early-stage start-ups to a focused Blockchain, DeFi and Crypto-Finance venture operator, revenue crept up to £140,230 from £108,967 a year ago.

Profit before tax narrowed to £27,000 from £242,000 the year before, reflecting a smaller gain this time round in the “fair value” worth of its financial assets.

“The strategic investment agreement with IOV Labs and the establishment of the IOV Labs Asia JV [joint venture] represents a transformational event and significant milestone for Coinsilium, laying the foundations for a unique and exciting strategic collaboration between Coinsilium and IOV Labs,” it said in the statement.

What the boss says: chief executive Eddy Travia

“We have been closely monitoring the growth of DeFi and crypto finance for some time and it is clear to us that the sector is still in its very early stages; with massive inflows of capital anticipated into these platforms and financial products over the next few years.

“We see the convergence of negative interest rates, the aftermath of economic crises, the emergence of central bank digital currencies and the overall political instability as a catalyst for institutional and individual investors’ interest in crypto finance, given the significant returns achievable and the fluidity of these financial products”,