In my last company update I wrote about Winning in Uncertain Times. and gave you insights on how we are focusing on execution, partnerships and product development for future growth.
In this second quarter company update I want to point out, that a winning strategy is not enough. The key to LCX’s success is execution excellence. Daily execution on our strategy, adapting to new market conditions, constantly delivering while being persistent and staying fully dedicated to our core company values.
Richard Kovacevich the former CEO of Wells Fargo once said:
“A vision and strategy aren’t enough. The long-term key to success is execution. Each day. Every day.”
Today, we’re excited to report our most successful quarter ever, fueled by accelerating growth, outstanding new partnerships and the start of our tokenization platform.
We generated revenue of 1’411’400 $LCX Token. That’s a 43% growth from last quarter and is above our revenue growth expectations. Our user base has now surpassed 58’000, which is a growth of 364% from last quarter.
We had great results in a number of areas across our platform. Usage and Pro Accounts at LCX Terminal are growing, while LCX Smart Order and the Markets-Page with full historical and real-time pricing are the two most used features.
Let me now show you more about our latest product updates. LCX Terminal expands with new connectivity to CEX.io cryptocurrency exchange, bringing the total exchange connections to 16. We’ve launched favorite trading pairs, an updated news desk and Crypto Reporting 2.0 for advanced portfolio analysis.
In Q2 2020 LCX also launched a new product category as TT Price Service Provider in accordance with the Liechtenstein Blockchain Laws. We have immediately seen strong growth in visits to LCX Reference Price Services. We also recognized immediately that we’ve addressed one of the key pain-points of the blockchain industry. Reliable price information, so called price oracles, official conversion rates and un-manipulated data are important factors for the token economy.
Advancing our vision for our utility token, the LCX Token, we announced five additional exchange listings: BitUbu Exchange, Coinsbit Exchange, Bidesk Exchange, HitBTC Exchange and UniSwap Exchange.
We also updated the process to buy LCX Token directly at LCX.com and published our Certificate Of Asset Protection for the LCX Company Reserve – confirming a lockup until June 2023.
May 29th we hosted a virtual LCX Blockchain Session with our advisor Miko Matsumura. During this Video AMA I demoed our platform and explained many details of LCX Terminal and Smart Order. But most importantly we have announced the launch of the STO Launchpad.
The LCX STO Launchpad is an
end to end tokenization platform combining a technology solution with key compliance and legal aspects.
We are thrilled to provide a peek at the future project pipeline of the STO Launchpad. Since the announcement we have signed two additional Security Token Projects valued at a double-digit million USD amount. On top of that, we have received many additional proposals, filling our pipeline of tokenization projects beyond $100 Million USD in total asset value.
LCX’s innovation extends beyond the impact of our own platform. We want to celebrate the collaboration with five new partners, highlighting our international network and efforts to only work with the best-in-class and industry-leading companies.
In our ongoing series of market insights to elaborate on the burning questions of the token economy, we have published several articles. We have shown why Automatic Smart Order Routing for Crypto is important, we explained the key benefits of Tokenized Assets and Security Tokens and we laid out the principles of Stakeholder Capitalism in the blockchain industry and the impact on the business of LCX.
As we move ahead into 2020 we will be continuing to focus on growth execution excellence: mastering the art of execution or in other words getting sh*t done.
Written by Monty C. M. Metzger – @montymetzger,
CEO and Executive Chairman at LCX AG – @LCX
Disclaimer: This content contains forward-looking statements that involve inherent risks and uncertainties, and we might not be able to achieve the predictions, forecasts, projections and other outcomes we describe or imply in forward-looking statements. A number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates, and intentions we express in these forward-looking statements and in other public filings and press releases. We may not achieve all of the expected benefits of our strategic initiatives and partnerships. Factors beyond our control, including but not limited to the market and economic conditions, changes in laws, rules or regulations and other market challenges, could limit our ability to achieve some or all of the expected benefits of these initiatives. This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money, particularly if you trade on leverage. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose.
LCX AG is a company registered in Liechtenstein No. FL-0002.580.678-2. LCX AG is regulated by the Financial Market Authority of Liechtenstein under the registration No. 288159 as a trusted technology service provider.
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