Coinsilium to Advise LC Lite on Launch of Token

Web3 advisor, venture builder and investor Coinsilium Group teamed up with global trade exchange platform LC Lite.

The partnership will see Coinsilium providing strategic advisory services for LC Lite’s upcoming token launch, Proactive Investors reported Tuesday (Feb. 20).

LC Lite, which was acquired this month by Incomlend, a regulated global invoice finance marketplace, aims to provide Incomlend with Web3 decentralized technology to improve marketplace liquidity and offer multicurrency solutions for cross-border export financing, according to the report.

The tie-up will also enable LC Lite to capitalize on opportunities within the digital asset market, the report said.

Coinsilium will advise LC Lite on tokenomics ahead of its planned token launch in the fourth quarter of 2024, per the report. Additionally, Coinsilium will facilitate introductions to its network of service providers and cryptocurrency firms.

Coinsilium CEO Eddy Travia said in the report that he believes LC Lite has the potential to help the trade finance market and provide new yield opportunities for crypto traders.

The partnership between Coinsilium and LC Lite is expected to provide businesses with cross-border payment solutions for real-world assets, according to the report.

In another development in the Web3 space, Ondo Finance and Aptos Foundation said Thursday (Feb. 22) that they have partnered on the integration of real-world assets with blockchain technology.

The partnership aims to develop a series of financial products using the strengths of both organizations, beginning with the integration of Ondo’s tokenized U.S. Treasuries product, USDY, onto the Aptos blockchain.

Meanwhile, Web3 venture capital firm Hack VC said Tuesday it closed an oversubscribed $150 million Venture Fund I to invest in early-stage Web3 opportunities. That brought its aggregate commitments to $350 million.

Hack VC’s investment strategy focuses on Web3 infrastructure, financial infrastructure, and the intersection of Web3 and artificial intelligence.

“With millions of users and regulatory clarity emerging across the world, it is clear that Web3 is here to say,” said Alex Pack, Hack VC managing partner. “Yet, like the early days of the internet, Web3 still requires an infrastructural paradigm shift in scalability, security and usability before it is ready for mainstream usage.”