Under the Symbol:
Xunlei Limited to set up $100 million fund to invest in blockchain technology
Wednesday, October 30, 2019 7:00 PM
SHENZHEN,CHINA / ACCESSWIRE / October 30, 2019 /Xunlei Limited ("Xunlei" or the "Company") (Nasdaq: XNET), a leading innovator in shared cloud computing and blockchain technology, today shared that the company is in the preliminary stage of planning to establish an independently operated private equity fund to invest in blockchain technology. The company hopes to raise up to US$100 Million for this fund, which will primarily invest areas including, but not limited to innovative blockchain technology, blockchain business models and digital assets. This fund will be operated outside of China independent from Xunlei,s Chinese operating entities. Details regarding this fund are still being discussed as the Company is still in the early stages of preparation, more information will be shared once they become confirmed and available.
Xunlei Limited was incorporated under the law of the Cayman Islands as a limited liability company, and operates its Chinese business through consolidated VIE companies, including Shenzhen Xunlei Networking Technologies, Co., Ltd. The Company provides a wide range of products and services across cloud acceleration, blockchain, shared cloud computing and digital entertainment to deliver an efficient, smart and safe internet experience.
Xunlei operates ThunderChain, a high-performance blockchain platform, which can concurrently conduct up to one million transactions per second (TPS). It is said ThunderChain is one of the world's leading blockchain technologies and possesses some of the advanced industry-leading features. The Company has submitted 95 applications for blockchain patents, making it one of the most productive companies in the industry. To date, ThunderChain has been applied to over dozen of industries.
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SOURCE: Xunlei Limited