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Coinsilium inks agreement to promote RSK network in Southeast Asia

The agreement with StartupToken and IOV Labs will establish an RSK adoption hub in Singapore focused on developing blockchain technology will local businesses

Blockchain
RSK is a smart contract network secured by the Bitcoin blockchain

Coinsilium Group Limited (LON:COIN) has signed a strategic advisory agreement to promote adoption of the RSK Smart Contract Network in Singapore and Southeast Asia.

The blockchain investment and advisory group said the agreement with hyper accelerator StartupToken, in which it holds a 27.8% stake, and RSK development firm IOV Labs will involve the establishment and ongoing support of a recently announced RSK adoption hub in Singapore, which will focus on developing blockchain technology applications in collaboration with local businesses and start-up projects.

READ: Coinsilium says it is entering “highly productive period” as crypto market recovers

Coinsilium and StartupToken will provide advice on an investment and commercial development strategy for the region, while IOV’s head of business development, Henry Sraigman, will manage the new Singapore office from the Autumn.

Eddy Travia, Coinsilium’s chief executive, said they were confident that the RSK network would “quickly gain traction” across the region as businesses explored how to use blockchain technology to solve “real-world problems”.

“Singapore's role as an emerging blockchain hub in Asia is well known, hosting many of the leading blockchain companies in the space…We look forward to providing further updates to the market in due course", he added.

In early trading, Coinsilium shares were trading at around 3.8p on the NEX exchange.

--Adds share price--

Quick facts: Coinsilium Group Limited

Price: 2.75 GBX

NEX:COIN
Market: NEX
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