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Coinsilium turns profitable in 2017 as demand gathers pace

Published: 07:52 31 May 2018 BST

Blockchain
The group also said it was considering a permanent presence in Gibraltar

Coinsilium Group Limited (AQSE:COIN) has turned a profit for 2017 as it saw demand for it advisory services continuing “unabated” into the new financial year.

The NEX-listed blockchain venture investor and advisor reported a pre-tax profit for the year of £121,345, up from a £738,065 loss the year before, while revenues increased to £586,263 from £208,627 in 2016.

WATCH:Coinsilium says 2017 has been transformational year for the company

The group also highlighted developments for its advisory services for token generation events (TGEs), which had helped its clients generate around US$500mln in token sales and had provided “significant” fee income for the group.

In its outlook, Coinsilium said momentum had accelerated at the start of 2018 as demand for its advisory services continued “unabated”.

The firm added that the appetite for TGEs was gathering pace, particularly in the Far East and Asia where it had already generated “a healthy pipeline of business leads”.

The company also said that the introduction of the regulatory framework in Gibraltar will have a positive effect on the demand for alternative funding options and that 2018 would be a significant year for Terrastream, its wholly owned Gibraltar-based platform for token-based funding opportunities.

As a result, Coinsilium said it sees Gibraltar, and the forthcoming regulatory framework as playing a central role in the global recognition and acceptance of TGE's in the future, and as such was evaluating the possibility of having a presence in the country.

Coinsilium chief executive Eddy Travia said: “Looking ahead, the momentum seen in 2017 has accelerated at the start of 2018 as demand for our advisory services continues unabated and our portfolio of investee companies continues to strengthen.

He added: “Coinsilium continues to work with leading projects across the various industry sectors including healthcare, social media, adtech and more. Coinsilium is one of the pioneers in this fast growing market and is well positioned to leverage its expertise, contacts and know-how to build a foundation for long term growth."

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