Today, IOV Labs and blockchain venture builder and advisor Coinsilium announced the formation of a Joint Venture company in Singapore with to promote IOV’s RSK and RIF OS blockchain solutions in Asia Pacific enterprise markets.
Key objectives for the JV Company are to accelerate adoption of RSK’s products, services and technologies in the Asian markets and the RIF token which powers the ecosystem of solutions developed by RSK, their partners and independent developers around the world. IOV Labs recently announced the integration of its decentralized Storage and Payments solutions into decentralized logistics platform dexFreight. In addition, it has partnered with, Bitcoin stablecoin protocol Money on Chain to develop a ‘RIF Dollar’, allowing RIF token holders to make use of DeFi (Decentralized Finance) services developed for Bitcoin.
IOV Labs previously joined forces with Coinsilium and StartupToken in July 2019 to establish the RSK Adoption Hub in Singapore Since then, IOV has advanced in the region, including forming alliances with Japan’s largest blockchain accelerator and adoption hub BinaryStar, and Singapore’s government-backed blockchain accelerator Tribe.
Eddy Travia, Coinsilium’s CEO, has signed on as Director of the Joint Venture company, and will act as Regional Director for Asia-Pacific for IOV Labs while retaining his duties as CEO for Coinsilium.
Eddy Travia, CEO of Coinsilium, commented: “We are very pleased to be able to announce this Strategic Investment Agreement and MoU today, which represents a clear demonstration of confidence in Coinsilium’s development strategy, whilst significantly strengthening the ties between Coinsilium and IOV Labs. The rapidly-evolving blockchain ecosystem in Asia is an important strategic market for RSK, and comprises some of the most dynamic and fast-growing blockchain hubs in the world. We look forward to updating the market in the near term as we work towards finalising the definitive JV agreement which will enable us to further our collaboration with the IOV Labs and RSK’s teams. The Board continues to focus on delivering long term value to Coinsilium shareholders through continued revenue generation and growth.”
Diego Gutierrez Zaldivar, Chief Executive Officer of IOV Labs, added: “This is an extremely exciting time for the IOV Labs team. Asia has always been a key market for us, as the immense innovation in the region will be integral to realizing blockchain’s full potential. We are very excited about our strategic partnership with Coinsilium as it will help set an important footprint in the region, allowing us to forge new relationships with key partners and solidify the long term success and development of RIF Labs and the RSK blockchain.”
IOV has invested approximately GBP250,000 (326,000 USD) into Coinsilium, part of which will be dedicated to joint initiatives.
About IOV Labs and RIF
IOV Labs is focused on developing the platforms needed for a new blockchain-based financial system that will enable worldwide financial inclusion and bridge the gap between these nascent technologies and mass adoption.
The organization currently develops the most popular implementations of the RSK Smart Contract Network RIF and Taringa´s platforms. RSK Network is the most secure Smart Contract platform in the world, as it relies on Bitcoin’s hash power. RIF is a suite of open and decentralized infrastructure protocols that enable faster, easier and scalable development of distributed applications (dApps) within a unified environment to enable mass adoption of Bitcoin and RSK and Taringa - Latin America's largest Spanish speaking social network with 30 million users and 1,000 active online communities - through the integration with Bitcoin, RSK and RIF will help shape the Internet of the Future where individuals will be in full control of their information and value.
Coinsilium is a venture builder, investor and advisor, supporting early-stage blockchain technology companies and the digital token economy. As the first ever IPO of a blockchain company in 2015, Coinsilium harnesses its experience and wide-ranging network to invest in some of the world's leading blockchain projects such as RSK/IOV Labs, Indorse, Blox and Factom.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.Back