Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF), the Web3 advisor, venture builder and investor, has signed an agreement with global trade exchange platform LC Lite to provide strategic advisory services for its forthcoming token launch.
LC Lite was recently acquired by Incomlend, a regulated global invoice finance marketplace for SMEs with licences to operate in Singapore and in Hong Kong.
Incomlend was founded in 2016 to address the US$2.5 trillion global trade finance gap and was named one of the Top 15 Fastest Growing Companies in Singapore in 2022.
LC Lite aims to bring Web3 decentralised technology to Incomlend, with improved marketplace liquidity, multi-currency solutions for cross-border export financing and a broad usage of stablecoins.
LC Lite will also be well-positioned to capitalise on emerging business opportunities from within the fast-growing digital asset market.
Coinsilium will advise LC Lite on matters relating to tokenomics ahead of its planned token launch, slated for the fourth quarter of 2024.
Introductions to its extensive network of major service providers and cryptocurrency firms will also be facilitated by Coinsilium.
Payment for providing these services in the form of cryptocurrencies, including bitcoin ether and project digital tokens, on successful completion of a Token Generating Event (TGE).
“We are delighted to be working with LC Lite on this exciting enterprise token project, supported by established global invoice finance marketplace Incomlend,” said Eddy Travia, chief executive of Coinsilium. “We believe that LC Lite holds the potential to positively impact the complex processes currently employed in the multi-trillion-dollar market for trade finance and real-world assets, while providing promising new yield opportunities for crypto traders.”
Jean-Charles Devin, co-founder and director of LC Lite, added: “We are thrilled to embark on this journey with Coinsilium as an advisor for LC Lite, which strengthens our long-standing collaboration with them.
“Coinsilium's esteemed reputation and expertise in the blockchain and cryptocurrency space makes them an invaluable partner as we navigate the exciting world of digital finance, leveraging their insights and guidance to drive innovation and success for LC Lite.
“Together, we look forward to building a strong foundation for sustained growth, empowering businesses with streamlined cross-border payment solutions for real-world assets.”