A two-year-old London-based fintech company investing in the technology behind Bitcoin is targeting to float an IPO on AIM, sub-market of the London Stock Exchange.
Coinsilium is a small scale company based in the financial technology hub of London and invests in the blockchain focused companies. The world’s first blockchain IPO is scheduled to take place within the next one month and the company will be listed under the ticker: COIN.
The group invests in companies which provide blockchain-based services such as wallets, payment gateways, exchanges, security solutions, financial services, and applications. The company’s portfolio boasts of promising fintech startups such as Hive, SatoshiPay, CoinSimple, btc.sx, factom, The Real Asset Co, and many others. For the complete list of projects that the group has vested interests in, click here.
Fund Raising Expectations
Through its initial public offering, Coinsilium is expecting to raise at least £3 million which will be utilized in future investments and expanding the stake in the already invested 11 companies.
Speaking to City A.M., Coinsilium Chief Executive Officer Eddy Travia commented that “we hope to become a major player in the industry and contribute to its growth.” On being asked why the company did not seek private investment and instead chose to raise funds via the market route, Eddy said, “we hope that becoming a listed company will add legitimacy to the fledgling technology.”
He credits his decision to get listed in the United Kingdom to the positive regulatory environment.
“In London the environment couldn’t be more positive with discussions with the Bank of England and regulators. It’s a better fit. The government feels more positive about what blockchain can bring to the City in terms of finance innovation.”
The Bank of England has acknowledged that Bitcoin’s blockchain technology has a much wider scope than being limited to payments. London has fast emerged to be a leading hub for financial innovations including Bitcoin and other cryptocurencies, and hosts several related events which help foster and expand the Bitcoin ecosystem.