Web3 advisor Coinsilium Group Ltd. has inked a deal with global trade exchange platform LC Lite, steering the ship for its upcoming token launch.
The collaboration aims to integrate distributed ledger technology (DLT) features into LC Lite, to enhance marketplace liquidity and foster stability in cross-border export financing.
Coinsilium’s strategic advisory services come to the forefront as LC Lite, which was recently acquired by Incomlend, aligns itself with the Web3 advisor. Incomlend, a company focused on addressing loopholes in the global trade finance ecosystem, has joined forces with LC Lite.
LC Lite aspires to introduce Web3 principles to Incomlend, with a focus on enhancing marketplace liquidity, providing multi-currency solutions for cross-border export financing, and fostering broader stablecoins adoption.
The collaboration positions LC Lite to seize emerging opportunities within the rapidly expanding digital asset market. This move aligns with broader industry trends, as evidenced by the growing institutional interest in crypto investments, with companies like Coinsilium joining the bandwagon.
Coinsilium’s involvement goes beyond advising on tokenomics for LC Lite’s planned token launch in Q4 2024. The collaboration extends to leveraging Coinsilium’s extensive network, connecting LC Lite with major service providers and cryptocurrency firms. This strategic alliance facilitates LC Lite’s integration into the broader crypto ecosystem.
The compensation model for Coinsilium’s services is noteworthy — payment in various cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and project-specific digital tokens. This aligns with the industry’s evolving landscape and showcases a commitment to embracing the very technologies Coinsilium advocates.
Eddy Travia, chief executive officer of Coinsilium, emphasizes the potential impact of LC Lite on the multi-trillion-dollar trade finance market. His statement reflects a measured optimism, avoiding hyperbole, and focuses on the tangible benefits that LC Lite could bring to real-world assets.
Jean-Charles Devin, co-founder and director of LC Lite, underscores the value of Coinsilium’s reputation and expertise in the blockchain and cryptocurrency space. The emphasis on collaboration and shared innovation sets the tone for a partnership grounded in mutual growth and success.
Together, Coinsilium and LC Lite aim to establish a robust foundation for sustained growth, empowering businesses with streamlined cross-border payment solutions for real-world assets. The narrative avoids overused phrases, maintaining a clear and informative tone throughout.
Coinsilium is a blockchain and open finance venture operator based in Gibraltar. The Londn-based company, which became the first blockchain entity to launch an initial public offering (IPO) in 2015, has evolved to offer revenue-generating strategic advisory services.
This includes notable ventures such as a fifty-fifty partnership with IOV Labs in Singapore and a collaboration with blockchain technology experts Indorse to establish Nifty Labs, a non-fungible token (NFT) technology development studio in Gibraltar.
The rise of institutional adoption
A survey conducted by Coinbase in November suggests a growing interest in institutional crypto adoption.
Additionally, the approved spot Bitcoin exchange-traded funds (ETFs) by the Gary Gensler-led U.S. Securities and Exchange Commission (SEC) is noted as a historic decision with major financial institutions like Grayscale, Fidelity and BlackRock entering the Bitcoin investment space.
The Bitcoin ETF move is viewed as a catalyst for legitimizing and stabilizing Bitcoin as an asset class. Recently, Blockworks revealed that the ETFs have amassed over $25 billion in collective assets under management in the space of one month.
The subsequent uptrend in the price of Bitcoin aligns with the wider institutional interest fostering a positive sentiment in the crypto.
As of the time of writing, the total cryptocurrency market cap stands at $2.06 trillion, with Bitcoin commanding a 52.7% market share, per data from CoinGecko.