Coinsilium Group, the blockchain venture builder and investor that finances and manages the development of early-stage blockchain technology companies announced today they have signed a Memorandum of Understanding (MoU) with United Mobility Technology AG (UMT), a German company specialised in the development and implementation of individual mobile payment and blockchain solutions for large-scale customers such as PAYBACK (American Express Group).
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.