United Kingdom has been making great progress in terms of bitcoin and digital currency regulations. The recent report by HM Treasury stands proof of that. UK is on its way to become one of the favourable destinations for bitcoin businesses. Now, UK will soon be witnessing the very first bitcoin IPO sometime later next month.
Coinsilium, the London based fintech company focusing on bitcoin and Blockchain technology has announced its plans to list itself on AIM, London’s junior stock market. Coinsilium is looking to raise about GBP 3 million from the listing which will be utilized to expand its portfolio by investing in more Blockchain technology based start-ups. The company has 11 start-ups in its portfolio at the moment.
Coinsilium will be trading with the ticker COIN in AIM. According to Coinsilium’s CEO Eddy Travia, the company decided to go public on AIM as the directors have experience in the market. Operated by London Stock Exchange, AIM is a stock market for small companies.
At a time where only a handful of digital currency based businesses are listed, Coinsilium’s IPO has garnered the interest and curiosity of investors in the region. In order to facilitate smooth trading, Travia has been engaged in talks with the Bank of England and various investors.
Coinsilium has been following the Blockchain bandwagon very closely and it has been investing, incubating and advising start-ups working in bitcoin and Blockchain space. It also operates Blockchain Space Accelerator program along with other partners for such start-ups.
The financial markets have seen a lot of developments this year in connection with bitcoin and digital currency. DigitalBTC, an Australian bitcoin mining company went public at the Australian Stock Exchange, similarly NASDAQ is researching the possibility of integrating Blockchain technology into its operations. Even the banking sector is adopting digital currency technology for fund transfer applications.
Coinsilium may be London’s first bitcoin company to go public, but it is definitely not going to be the last one. The current pace of growth in digital currency sector indicates other companies soon following suit.