Coinsilium, a British fintech company focusing on Bitcoin’s technology, plans to launch Britain’s first blockchain IPO (Initial Public Offering). The firm has announced it will soon list its shares on London’s AIM, the stock market for small companies.
According to Coinsilium, the IPO will kick-off in the first half of August under the ticker COIN, proving that investors and fintech experts are getting more and more interested in the blockchain. Coinsilium will be the first Bitcoin company in the country and one of the first in the world to launch such an offering.
The two-year-old cryptocurrency platform is known for its investments in early-stage blockchain startups. Coinsilium aims to raise $4.6 million (about £3 million in the UK) following the listing on AIM, the junior stock market run by the London Stock Exchange.
When questioned if it might be too early to enter the public market, Coinsilium’s CEO admits: “In a way I hope it’s a little bit too advanced so we make a little bit more of a statement and open some people’s eyes.”
Eddy Travia, the fintech entrepreneur running the London-based platform, says the company hasn’t noticed any resistance when talking to investors about the blockchain. On the contrary, he guarantees. “They’re curious and interested.”
“There is a little of education of course, putting facts and putting news into context regarding blockchain and cryptocurrencies. But the reception has been good and a lot of people are starting to contact us, of course now more than before because we just announced the coming IPO.”
Travia, an experienced venture capitalist himself, believes AIM is the best place to launch the IPO as it represents a very successful growth market. “The other reason we looked at AIM is because our directors had some experience and because it’s in London, which has this progressive and positive attitude towards cryptocurrencies. We felt that it was a good idea to do it in London. From a regulatory point of view we talked to the Bank of England, we’ve talked to people in Westminster.”
It’s a confusing time at the moment for UK-based companies dealing with Bitcoin, since the government is planning to tackle encryption. The country’s prime minister, David Cameron, has said that the authorities need to access encrypted communications to guarantee the safety of the population. This could result in changes to the way Bitcoin and other digital currencies are seen in Britain.
On the other side, the Bank of England has previously praised Bitcoin and its core technology. The institution revealed in February 2015 that it believes electronic currencies like Bitcoin could fundamentally change the payments industry across the world.