Coinsilium Group Limited (LON:COIN) is to provide advisory services to blockchain business data platform OASISBloc in relation to an initial exchange offering (IEO).
IEOs are sales of company tokens that are administered by a cryptocurrency exchange and conducted on its platform in return for a listing fee along with a share of the tokens sold during the process, which are then listed.
READ: Coinsilium surpasses £1mln in revenues for the first time
Coinsilium said it would provide its advisory services in relation to the IEO as well as for a US$35mln target presale for Oasis Chain, a new blockchain-based platform for data sharing, storage and transactions.
Eddy Travia, Coinsilium’s chief executive who will join OASISBloc’s board of advisors, said the company was seeing “growing market interest” in IEOs and that as the trend gained momentum he expected higher demand for the company’s advisory services.
Going forward, Travia said the firm would remain selective and advise the “highest quality projects” led by teams with strong technical expertise such as OASISBloc.
Based in Singapore, OASISBloc is aiming to build a blockchain-based ecosystem designed to trade useful data in the business world by gathering partners from across industry sectors.
While the exact terms of the deal were not disclosed, Coinsilium said fees for advisory services were usually comprised of monthly retainer fees and a final success fee, with the latter usually a fixed fee or single digit percentage of the proceeds of the token sale, payable upon its completion.
In early trading on Tuesday, Coinsilium’s shares were trading at around 3p on the NEX exchange.
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