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.

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/

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Source: Newsbtc

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