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IOV Labs Expands Partnership With Coinsilium Advisors, £250К Investment Announced

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Thu, 01/30/2020 - 12:56
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Vladislav Sopov
IOV Labs, the development team focused on building cutting-edge blockchain-based financial solutions, announced new plans in the sphere of partnerships and investments.
IOV Labs Expands Partnership With Coinsilium Advisors, £250К Investment Announced
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Since Asia Pacific is among the most important regions for blockchain progress and adoption, any new partnership here is always in the spotlight. Today, developers from IOV Labs joined forces with the advisory firm, Coinsilium.

Innovations hub for Asia Pacific

The new joint venture company was formed in Singapore to promote IOV Labs solutions. The development firm partnered with Coinsilium, a UK-based consulting think-tank. The new entity will accelerate the adoption of IOV Labs products, services and technologies in Asian markets.

In particular, the RSK Smart contract platform and RIF Dollar (Bitcoin-based stablecoin) will be among crucial products they will promote. RIF Dollar will act as an intermediary in the sphere of decentralized finances (DeFi).

IOV Labs Ecosystem
Image by: https://iovlabs.org/our_mission.html

Furthermore, the profound investment program has been disclosed. IOV invested approximately £250К, or $326K, so far into Coinsilium. Partially, this sum will be spent to fuel joint initiatives.

Partnerships for progress

The agreement is one more step in a series of multi-purpose partnerships for IOV Labs. Recently, it launched an integration with Taringa - Latin America's largest Spanish speaking social network with 30 million users and 1,000 active online communities. 

The new partnerships will also facilitate the mass adoption of the Bitcoin (BTC) blockchain itself, as it utilizes the Bitcoin (BTC) hash-power when validating transactions. Also, IOV Labs provides options for multi-asset smart contract management.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)