Coinsilium Group Limited (COIN)
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium Group Limited: Coinsilium signs SAFT to acquire Yellow Network Native Tokens
Eddy Travia, CEO of Coinsilium, commented:
"Cryptocurrency exchange services are some of the most profitable activities in the blockchain space. By way of example, Binance is the largest cryptocurrency exchange globally processing around
Yellow Network is a highly ambitious venture headed up by a very capable and impressive team of experienced trading software and blockchain industry veterans which aims to transform the current cryptocurrency exchange trading landscape through the creation of a peer-to-peer clearing house, deploying a Financial Information Exchange and global distributed liquidity network for cryptocurrency exchanges and trading firms.
We are therefore very excited to support this early funding round of the Yellow Network and we look forward to updating the market on further developments on this exciting project."
Louis Bellet, CEO of Yellow, commented:
"Yellow Network is designed to become a game-changer for the crypto industry and having the support of Coinsilium will allow us to significantly advance our research and development in the Web3 Internet of Finance. The partnership will further influence the blockchain community by connecting exchanges and market makers, through a clearing house layer. We are seeking to address the complex challenges of cross-chain transactions and help simplify users' trading needs through a next-gen financial platform."
Terms of SAFT
Under the terms of the SAFT, Coinsilium will receive
Background to Yellow Network
In December 2021, Yellow, Inc. ("Yellow") and Openware, Inc. ("Openware'') announced that they had finalised a merger, to construct a financial information exchange network, which will be focused on developing a broker clearing network for cryptocurrency exchanges, brokers and trading institutions, that will be scaled to "billions" of transactions at ultra-high-speed. The combined umbrella brand, Yellow, operator of the Yellow Network, has over 120 employees worldwide and multiple offices and co-working spaces in
Openware's expertise comes from ten years of servicing European retail banks, shifting their focus entirely to the blockchain industry with the release of an open-source modular platform OpenDAXTM for building digital asset trading systems. Since the commencement of their crypto trading services in 2017, Openware has shipped over 150 trading platforms to their clients, which include some of the largest crypto exchanges globally.
Yellow has an established reputation as a leading cryptocurrency market-maker providing startup seed funding, mentorship, advisory, data analytics and as a FinTech software solutions provider.
The Yellow Network will connect multiple cryptocurrency exchanges to share orders, and liquidity providers will receive a share of the trading fees. The layer-3 application layer on top of any existing blockchain will unlock order books and high-frequency trading for network participants with the help of state channels technology. Yellow Network plans to establish connection points in most major blockchain protocols enabling cross-chain collateral and settlements.
Yellow Network partners include GSR, Gate.io, LD Capital, Master Ventures, Moonrock Capital, Yellow Spoon Capital, NOIA, amongst others. Further partnerships are expected to be announced in the coming weeks, details of which will be released via the Yellow Network blog.
YELLOW is a native token of the Yellow Network. Brokers inside the network will be the main users of the token. YELLOW token has the following utilities:
The Directors of Coinsilium Group Limited take responsibility for this announcement.
Notes to Editor
Coinsilium is a focused Blockchain and Open Finance venture operator based in
Coinsilium has developed an array of commercial partnerships and joint ventures around the world to support its development capabilities, giving it access to best-in-class tech experts, a strong network, and asserting its profound industry profile. It has a 50:50 venture with IOV Labs in
Coinsilium shares are traded on the APEX segment of the AQSE Growth Market in
Openware, Inc. is a
For more information you may visit: https://www.openware.com/
About Yellow Network
Yellow is a global ecosystem of blockchain products & services for Web3 Internet of Finance, providing startup seed funding, mentorship, advisory, data analytics, market making, and fintech software solutions.
Yellow also provides developer tools, services, and education programs for blockchain infrastructure developers and crypto brokerage businesses worldwide.
For more information you may visit: https://www.yellow.org/
Press Contact: firstname.lastname@example.org
|EQS News ID:||1331393|
|End of Announcement||EQS News Service|