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Coinsilium welcomes acquisition of social network platform by investee company, RSK

"As initial investors, Coinsilium has been supporting RSK since its early days and we continue to work actively with the IOVLabs/RSK team."

Taringa welcome splash screen

IOVLabs, the parent company of RSK, in which Coinsilium Group Limited (NEX:COIN) has a stake, has acquired Taringa, the world's largest Spanish-speaking social network platform.

The stake held by Coinsilium, the blockchain venture builder, in RSK is represented by way of 1,951,846 RIF tokens. As announced on 19 November 2018, Coinsilium's shareholding of 65,000 series Seed 1 RSK shares was converted to RIF tokens by way of a 'share for token' swap.

The RIF tokens are now vesting and will continue to do so over the remainder of the vesting period. Coinsilium chairman Malcolm Palle is also a member of the board of directors of IOVLabs.

WATCH Coinsilium sees big opportunities as investee company RSK Labs is acquired

Taringa is the largest Spanish language social network in the world and with an estimated 534mln Spanish speakers globally, in terms of adoption, this acquisition represents a unique opportunity to introduce millions of people worldwide to the existing and upcoming RIF-based solutions, including rewards and payments, peer-to-peer exchanges and decentralised application marketplaces,” said Eddy Travia, the chief executive officer of Coinsilium.

"I am confident that this acquisition and the worldwide exposure it will achieve for RSK and RIF OS [operating system] will accelerate the commercial development of RSK and positively impact the adoption and value of the RIF token," he added.

Quick facts: Coinsilium Group Limited

Price: 2.75 GBX

NEX:COIN
Market: NEX
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