CA-XYO-NETWORK
The XYO Network (Coinbase: $XYO), the geospatial blockchain network, announced today a recent record 2x growth as well as profitability for the first half of 2021. XY Labs generated net income of $3,841,615 in the first half of 2021 through a plethora of disclosed and undisclosed partnerships vs a loss of $1,967,793 in the first half of 2020.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210928006178/en/
XYO stated that the number of nodes for the XYO Network had doubled in size over the last three months, noting a promising outlook for the remaining 2021 year and emphasizing a strong recovery from the global lull caused by COVID-19.
The company’s announcement shines a light on the constant financial struggle for many crypto-projects, whose main assets like crypto tokens and currencies experience extreme volatility on the decentralized exchanges they trade on. Arie Trouw, one of the project’s founders and CEO of the parent company explained how XYO avoided becoming a “dead coin ” by focusing on profitability and technological development over the past two years.
“Unlike many ‘dead coins’ that arose from failed crypto-projects from 2018, our utility token has been thriving,” Trouw said. “We believe that by choosing to focus deeply on solid technology, profitability, and developmental growth over the last two years, we have surpassed other blockchain projects that may focus more on the excitement of growth and promises.”
Trouw went on to explain some of the upcoming updates to the XYO Network technology, highlighting a goal to improve the speed and implementation of future and current partnerships.
This isn’t the first time the company has shared exciting numbers about their products; earlier this year they released a case study that analyzed 500 customers who use their “COIN” App product to participate in the blockchain network in exchange for prizes and rewards. The study showed how the users had collectively earned 933,697,010 XYO Tokens, the crypto utility token used for the network that was recently listed on Coinbase. At the time of the case study, the total tokens were valued at over $14 million.
Trouw stated there is more to come and is hopeful for the upcoming developments. “Over the last two years we may have been quieter, but by no means less focused on bringing to life the technology we’ve dreamed of building,” he stated. “If anything, we’ve been more efficient and more aligned than ever… and we can’t wait to see where it all goes next.”
More Information about XY Labs and XYO Network
Since 2012, we've developed geospatial products for customers to use in everyday life that help them improve the creation, management, and provenance of their personal activities, tasks, entertainment, and data. In 2018, we unveiled the XYO Network, the world’s first geospatial blockchain network backed with cryptography. With over 3 million downloads for our XYO-enabled application “COIN”, users around the world can participate in the XYO Network and even be rewarded for doing so. For more information, visit us at https://xy.company and https://xyo.network .
Facebook: www.facebook.com/OfficialXYO
Instagram: www.instagram.com/officialxyo
Twitter: www.twitter.com/officialxyo
View source version on businesswire.com: https://www.businesswire.com/news/home/20210928006178/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Northern Escape Heli-Skiing Takes the Title of “World’s Best Heli-Ski-Operator” for the 4th Year Running5.12.2025 02:40:00 CET | Press release
4x World’s Best Heli-Skiing Operation near Terrace, BC Northern Escape Heli-Skiing (NEH) has been named World’s Best Heli-Ski Operator 2025 by the World Ski Awards, marking its fourth straight victory following years 2022, 2023 and 2024. This recognition places NEH amongst an elite group of ski tourism operators consistently voted best in the world by industry leaders and enthusiasts alike. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204074550/en/ A four-year run built on reliability NEH operates in British Columbia’s Skeena Mountains, where deep northern snow and vast terrain come together with small-group heli-skiing and heli snowboarding. When helicopters can’t safely fly, NEH has cat skiing readily available as a backup — an exceedingly rare offering in this industry. The operation spans over 833,571 wild acres of alpine bowls, glaciers and old-growth tree skiing. The NEH experience Guests choose from three lodge f
IDE034, a Bispecific ADC Licensed by Biocytogen to IDEAYA, Receives FDA IND Clearance5.12.2025 01:00:00 CET | Press release
Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (Biocytogen, HKEX: 02315), announced that its partner IDEAYA Biosciences, Inc. (Nasdaq: IDYA), a precision oncology company, has received the clearance of an investigational new drug (IND) application with the U.S. Food and Drug Administration (FDA) for the initiation of a Phase 1 clinical trial of IDE034, a potential first-in-class B7H3/PTK7 bispecific antibody-drug conjugate (ADC). IDEAYA expects to begin patient enrollment in Q1 2026, initially evaluating patients with solid tumors known to express B7H3 and PTK7, including lung, colorectal, head and neck, and ovarian/gynecological cancers. IDE034 is a bispecific B7H3/PTK7 TOP1 ADC, independently developed by Biocytogen and licensed to IDEAYA in July 2024. The IND clearance marks an important milestone for this licensed program, supporting subsequent clinical development of IDE034, while highlighting Biocytogen’s technical capabilities in bispecific ADC discovery and development. Dr. Yue
Helical Fusion, Developer of Next-Generation Clean Energy Through Nuclear Fusion, Completes USD 5.5M Series A Extension Round5.12.2025 01:00:00 CET | Press release
Stakeholder base expands with participation from an individual-investor-oriented fund, alongside corporate and individual investors, bringing Total Funding to USD 38M Helical Fusion Co., Ltd. (Head Office: Chuo-ku, Tokyo; CEO: Takaya Taguchi; hereafter “Helical Fusion”), which is developing a next-generation energy source using Japan’s original Helical Stellarator technology to realize commercially viable fusion power plant in the 2030s, announced the completion of its Series A Extension round, raising approximately USD 5.5 million (≈ JPY 870 million). The round included investments from “Ecrowd NEXT”, a fund designed for individual investors, as well as multiple corporate investors and individual investors. As a result, Helical Fusion’s total Series A funding, including loans, amounts to approximately USD 21 million (≈ JPY 3.2 billion), bringing the company’s cumulative fundraising—including grants and loans—to approximately USD 38 million (≈ JPY 6.0 billion). With this funding, Helic
Andersen Consulting udvider sin tilstedeværelse gennem samarbejde med Hilal Technology4.12.2025 23:04:00 CET | Pressemeddelelse
Andersen Consulting indgår en samarbejdsaftale med Hilal Technology for at styrke sine kompetencer inden for digital infrastruktur, cybersikkerhed og AI. Med tilstedeværelse i Bahrain, Saudi-Arabien, De Forenede Arabiske Emirater, Oman og Indien leverer Hilal Technology et komplet spektrum af digital infrastruktur og managed services inden for cloudcomputing, cybersikkerhed, enterprise ai og systemintegration. Deres ydelser omfatter cloudtjenester, sikkerheds- og netværksdrift, implementering af ERP og applikationer samt udvikling af generative ai-kapaciteter. Med et team på mere end 250 fagfolk servicerer firmaet en bred vifte af brancher, herunder den finansielle sektor, olie og gas, logistik og den offentlige sektor. "Transformation er mere end systemer; det handler om parathed, tillid og løbende samarbejde," udtaler Roshan George, direktør for Hilal Technology. "Vi er begejstrede for at samarbejde med Andersen Consulting og levere skalerbare løsninger, der matcher tempoet i den dig
Xsolla Integrates MVola as a Payment Method to Enable Instant, Card-Free Payments for Gamers in Madagascar’s Mobile-First Market4.12.2025 21:00:00 CET | Press release
MVola Integration Enhances Payment Accessibility And Supports The Growth Of Madagascar’s Thriving Mobile Gaming Ecosystem Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today announced that MVola, Madagascar’s number one digital wallet, is now available as a payment option for players across the country. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204268075/en/ Chris Hewish, President of Xsolla Madagascar is a fast-growing, mobile-first market of 32 million people, where digital wallets are the primary driver of daily transactions. MVola, recently licensed as a digital bank, has established itself as the leading wallet in the country, with over 10 million users and powering more than 1 billion transactions annually. By adding MVola as a payment method to its portfolio, Xsolla removes the friction of card payments, enabling players to pay seamlessly with a trus
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom