Blockchain focussed investor Coinsilium Group Limited (NEX:COIN) has inked a deal with a German mobile payments specialist for collaboration on new technologies targeting the business-to-consumer (B2C) market.
Signing a memorandum of understanding kicks off a three month period in which Coinsilium and UMT United Mobility Technology AG will explore the potential for a blockchain-based digital token which could be a medium of exchange specifically for mobile payments.
The UK based company will also help UMT evaluate the economic characteristics, token models and other specific properties required for a potential token sale.
“We are delighted to announce this MoU with UMT AG and we look forward to working with them in establishing the terms for a mutually beneficial commercial agreement in the near term,” said Eddy Travia, Coinsillium chief executive.
“UMT is a major player in the European mobile payments arena with partnerships with major names such as PAYBACK (American Express Group).”
“Our combined experience in the blockchain space makes us well placed to create innovative, reliable and safe solutions for the mobile payments industry.”
UMT currently owns a 3.04% equity stake in Coinsilium.