During an interview with Proactive’s Stephen Gunnion, Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF)'s CEO Eddy Travia and Executive Chairman Malcolm Palle discussed the company’s latest achievements, including a 346% increase in the fair value of its stake in Coindash, driven by the rising value of its SSV token.
The executives also emphasised key growth catalysts, such as the upcoming December token launch for the decentralised clearing network, Yellow, which recently attracted a $10 million investment led by Ripple’s chairman.
Proactive: Malcolm, Eddy, great to have you both on the show today. You recently announced your interim results, and one of the highlights was the increase in the fair value of assets available for sale. Eddy, could you explain that in more detail?
Eddy Travia: Absolutely, Stephen. We’ve been invested in a company called Coindash since 2017. They’ve pivoted a bit over the years and have now focused on decentralized Ethereum staking. For those not familiar, staking Ethereum typically requires a minimum of 32 ETH, which is a substantial amount. Coindash developed a solution that allows users to participate in staking without needing that much ETH. Their SSV token, which powers this activity, has performed exceptionally well recently, driving up the valuation of Coindash and, in turn, our stake in the company. In fact, Coindash holds a significant amount of SSV tokens, which contributed to a 346% increase in the value of our investment.
Proactive: Malcolm, there are several exciting catalysts you mentioned, including the upcoming launch of the Yellow Token. Can you share more about this?
Malcolm Palle: Yes, Stephen. The Yellow Token is part of an investment we made in 2022 under a SAFT—Simple Agreement for Future Tokens. Yellow Network is developing a decentralized clearing network, addressing the issue of liquidity fragmentation in crypto trading. They’ve been working on it for some time, and their token sale is planned for December. What’s exciting is that last week, Ripple’s chairman led a $10 million funding round, further validating the project. Eddy can probably dive deeper into what makes Yellow Network so unique.
Eddy Travia: Yes, Yellow Network is exciting because it brings together two key players: the co-founder of GSR, a major crypto market maker, and the founders of Openware, who’ve built trading engines for traditional and crypto markets. Their decentralized clearing network is aiming to create a seamless trading experience, even enabling high-frequency trading in crypto, which currently doesn’t exist. So, the upcoming token launch in December is something we’re really looking forward to.
Proactive: Eddy, in your outlook statement, you also touched on your partnership with Liteflow. Could you share the vision for this collaboration?
Eddy Travia: Sure. Liteflow is a pioneer in NFTs, marketplaces, and token staking. They’ve worked with well-known names like Animoca Brands, which is involved in Web3 and gaming. Our partnership with Liteflow supports Web3 projects through pitch sessions, and tomorrow will be our third such session. It’s a great way for us to not only foster innovation in the Web3 space but also build a pipeline for our advisory services.
Proactive: You also mentioned Otomato, a recent investment. Could you elaborate on its potential?
Eddy Travia: Otomato is an automation protocol for Web3, filling a gap that exists in the blockchain space. Automation platforms like Zapier are common in Web2 but not in Web3. Otomato enables automation for tasks like DeFi trading and NFT activities, and what’s particularly exciting is that we’ll benefit from revenue sharing before the token even launches. This approach helps us generate returns earlier in the investment lifecycle.
Proactive: Malcolm, you’ve also mentioned advisory services being a core part of your business. Given the current market, how do you see this evolving?
Malcolm Palle: Advisory services are indeed crucial, and what’s exciting is our partnership with Liteflow, which gives us technical capabilities that we previously lacked. This allows us to offer a full 360-degree advisory service, from go-to-market strategies to technical development. The demand for our services typically rises in line with market cycles, and with crypto looking to gain momentum again, I expect strong growth in the coming year.
Proactive: Malcolm, before we wrap up, I have to ask: what’s your outlook on Bitcoin? Could we really see a six-figure Bitcoin by year-end?
Malcolm Palle: I believe so. Crypto markets are cyclical, and we’re approaching a turning point. If Bitcoin hits $100,000, it’ll spark a wave of investments across the sector. Personally, I’m optimistic that we could see six figures by year-end or early 2025. And once that happens, it’ll drive the broader market and fuel the next phase of growth for companies like Coinsilium.
Proactive: Eddy, do you share Malcolm’s optimism for Bitcoin’s potential this year?
Eddy Travia: Yes, I do. While 100,000 is a symbolic number, I believe we could get very close. My estimate is more around the 90,000 mark, but that’s still very promising.