Wed, 08 Nov 2017 07:00:00
UK-Regulatory: MoU with UMT United Mobility
8th November 2017
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium signs Memorandum of Understanding ("MoU") with
UMT United Mobility Technology AG
Coinsilium Group Limited (NEX:COIN), the blockchain venture builder and
investor that finances and manages the development of early-stage blockchain
technology companies, is pleased to announce that it has signed a Memorandum of
Understanding with UMT United Mobility Technology AG ("UMT"), a German company
listed on XETRA, a trading venue operated by the Frankfurt Stock Exchange, and
specialised in the development and implementation of individual mobile payment
and blockchain solutions for large-scale customers such as PAYBACK (American
Express Group).
Highlights:
* MoU signed with mobile payments specialist, UMT United Mobility Technology
AG;
* Coinsilium and UMT to collaborate in the development of blockchain
technology for mobile payments services focused on the B2C market;
* Explore the use of digital tokens as a medium of exchange for mobile
payments; and
* Targets commercial agreement with UMT.
Under the MoU agreement, Coinsilium will, for a period of 3 months, work with
UMT to explore the potential to develop a B2C solution for a blockchain-based
digital token to function as a medium of exchange specifically focused on
mobile payments. Both parties believe there are a number of opportunities to
explore the development of blockchain technology solutions for mobile payment
services and in the structuring of digital token offerings.
Coinsilium will also aid UMT in evaluating and determining the economic
characteristics, token models and other specific properties required for a
potential token sale.
Eddy Travia, Coinsilium's CEO commented: "We are delighted to announce this
MoU with UMT AG and we look forward to working with them in establishing the
terms for a mutually beneficial commercial agreement in the near term. UMT is a
major player in the European mobile payments arena with partnerships with major
names such as PAYBACK (American Express Group).
"Our combined experience in the blockchain space makes us well placed to create
innovative, reliable and safe solutions for the mobile payments industry. Our
advisory team's expertise, gained over many years, is pivotal to attracting and
securing collaborations with quality partners such as, UMT."
UMT has also advised Coinsilium that it currently holds 3,288,000 shares in
Coinsilium Group Limited (NEX: COIN) representing 3.04% of the issued share
capital of the Company, excluding treasury shares.
The Directors of Coinsilium Group Limited take responsibility for this
announcement.
For further information, please contact:
Eddy Travia,
CEO
+44 (0) 20 3889 4312
Coinsilium Group Limited
Malcolm Palle, Executive Chairman +44 (0) 7785 381089
Coinsilium Group Limited
Harry Chathli / Ana Ribeiro / Alexis Gore +44 (0) 207 618 9100
Luther Pendragon Ltd
(Media Relations)
Guy Miller / Mark
Anwyl +44
(0) 207 469 0930
Peterhouse Corporate Finance Limited
(NEX Exchange Corporate Adviser)
Nick Emerson +44 (0) 1483 413 500
SI Capital Limited (Broker)
Notes to Editor
About Coinsilium
Coinsilium is a blockchain venture builder and investor that finances and
manages the development of early-stage blockchain technology companies. It does
this through its consortium of top-tier investors, industry thought leaders and
executive managers. Based in London, Coinsilium's focus is on driving
innovation in fintech and blockchain technologies, enabling businesses to take
advantage of growth opportunities.
Coinsilium shares are traded on NEX Exchange Growth Market, the primary market
for unlisted securities operated by NEX Exchange, a Recognised Investment
Exchange under the Financial Services and Markets Act 2000.
For further information about Coinsilium please visit http://www.coinsilium.com
About UMT
UMT United Mobility Technology AG is a German public company listed on XETRA, a
trading venue operated by the Frankfurt Stock Exchange, and specialized in the
development and implementation of individual mobile payment and blockchain
solutions for large-scale customers such as PAYBACK (American Express Group).
As a white-label technology provider UMT has developed one of the largest
mobile payment platforms in Europe operating between parties such as large
retail chains, banks, bonus program providers and end-users. Their technology
is currently live in over 13,650 stores and 66,500 cash desks. In Germany, 13
million users are able to benefit from UMT's mobile payment technology. In
addition, UMT provides its customers loyalty programs and Smart Data services
along the entire value chain. http://www.umt.ag/en/
END