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.

• ICON Foundation –  Seoul, South Korea: LCX and ICON Foundation agreed to work closely together to develop new standards for tokenized assets and how it could interconnect with other blockchains participating in the ICON network.
• System9  – Los Angeles, USA: LCX and System9 have agreed to a partnership to roll-out market-making, increase user growth and joint product development.
• International Token Standardization Association (ITSA) – Frankfurt, Germany: ITSA and LCX agreed to work closely to establish the infrastructure for compliant security tokens and tokenization of assets
• ZenGo – Tel Aviv, Israel: ZenGo and LCX agreed to foster mass-adoption of cryptocurrencies by simplifying the user experience for the LCX Token and future security token offerings launched by LCX.
• LunarCRUSH – Los Angeles, USA: LCX and LunarCRUSH have teamed up to improve the quantitative and qualitative research data to make smarter trading and investment decisions for the crypto market.

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.