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Coinsilium swings to first half profit as token sale advisory grows

The company is confident it can build upon its early successes in the fast-growing token sale advisory space
Coinsilium swings to first half profit as token sale advisory grows
The blockchain and cryto investor delivered a strong first half performance

Blockchain and cryptocurrency investor Coinsilium Group Limited (NEX:COIN) swung to a first-half profit, boosted by a growing number of token sale advisory clients.

The group posted a profit of £0.55mln for the six months to the end of June compared to a loss of £0.21mln a year ago. Revenues came in at £1.3mln, more than ten times up from the £0.1mln it reported this time last year.

READ: Coinsilium signed up as advisory partner for Y Venture’s AORA ICO

The investment group said its assets available for sale stood at £1.37mln compared to £1.08mln at the end of 2017. Other assets were worth £0.7mln, while cash and equivalents stood at £0.7mln – down from £1.4mln at the end of last year.

"As the company moves into the busy last quarter of the year with a healthy pipeline of quality Token Sale Advisory clients, it continues to build upon our early successes in this fast-growing sector with a cash generative Token Sale Advisory Services division,” CEO Eddy Travia said in a statement.

"With nine live clients at the moment, and a number of strategic equity holdings across a solid portfolio of cutting-edge blockchain companies, Coinsilium remains well-positioned to leverage its expertise, contacts and know-how to build a foundation for long-term shareholder value,” he added.

Since the end of June Coinsilium said it had secured an advisory partnership with Universal Reward Protocol for €20mln token sale, enabling retailers to reward consumers for any type of shopping behaviour, online and offline, and for sharing the corresponding shopping data.

The firm also completed a US$125,000 investment in Bundle Network Limited, a Malta-registered company developing an online platform connected to multiple exchanges and facilitating cryptocurrency trading on and arbitrage between these exchanges.

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