Further to the announcement of 28 April 2017, Coinsilium Group Limited (NEX:COIN), the accelerator that finances and manages the development of early-stage blockchain technology companies, is pleased to confirm that it has completed its investment of USD$75,000 (approximately, £60,000) in Coin-Dash Ltd ("Coindash"), a company developing the world's first social trading platform for cryptocurrency investors, through a Convertible Loan Agreement (the Agreement). Additionally, Coinsilium will receive an entitlement to an undisclosed number of Coindash crypto tokens to be issued by Coindash in the next few months.
The Coindash platform (www.coindash.io) will enable cryptocurrency investors to manage and analyse their crypto assets portfolio, in addition, share insights about the cryptocurrency market, share achievements, copy-trade and get signals from the best crypto investors in the world. Social trading is a method used by investors to follow and replicate the trading strategies of other traders.
Cryptocurrencies usually represent application-specific tokens enabling its holders to interact with blockchain platforms or protocols. The issuance of new crypto tokens is increasingly being used by blockchain companies as a method for financing their development. In 2016, over US$200m of crypto tokens were issued by various blockchain enterprises. This market is growing rapidly and the global value of all cryptocurrencies has recently passed the $Bn50n mark.
Eddy Travia, CEO of Coinsilium, stated: "We are delighted to be investing in Coindash at this early stage of its development. It represents an exciting proposition in the emerging Token space - the so-called Blockchain 2.0. We have been following the progress of Coindash since they won the prestigious Ether Camp hackathon at the end of 2016. Supporting Coindash at this stage is a further affirmation of Coinsilium's determination to be an active and key player in the crypto token economy. We believe that the worldwide trading of cryptocurrencies will continue to grow at a fast pace and we are confident that the Coindash team has the right skillset to establish Coindash as the leading social trading platform of this new multi-billion-dollar market."
Alon Muroch, experienced developer in the blockchain space, CEO and co-founder of Coindash, stated: "We are very pleased to have Coinsilium join our seed round and look forward to their support and guidance. We are very proud to be part of Coinsilium's portfolio of leading blockchain companies. We believe that cryptocurrencies are becoming a new and pertinent asset class and we are working hard for Coindash to become the leading social trading platform in this fast expanding crypto asset market."
Coindash current partners include CryptoCompare, Smith & Crown and RSK Labs, one of Coinsilium's investees developing a smart contract platform powered by the Bitcoin blockchain.
The Directors of Coinsilium Group Limited take responsibility for this announcement.