- The number of swap pairs on the platform jumped to over 1000
- 1Myle more than doubled the number of crypto tokens on the platform
- 1Myle is on track and targeting up to $ 20,000,000 in revenue
- Exxe highlights future growth plans for 1Myle Crypto Swaps Division
NEW YORK, NY / ACCESSWIRE / March 31, 2022 / Exxe Group, Inc. (OTC PINK:AXXA), ("Exxe" or the "Company") a diversified fintech, private equity, and real estate company, is pleased to announce that its 1Myle Crypto Swaps Division has achieved significant operational and infrastructure progress in recent months, affirming it is an attractive resource for customers of all types and sizes. As a result, Exxe continues to target up to $20 million in revenue over the next four quarters, with forecasted favorable profit margins.
Over the last quarter, 1Myle Swaps has essentially been operating in beta test mode. While in beta, 1Myle Swaps elected to limit the number of active clients and hours of operation to ensure there would be no bandwidth or execution issues. In addition, management used this opportunity to test security and transaction speed, along with accurate algorithm processes and seamless integration with multiple platforms and ecosystem participants. As outlined below, 1Myle Swaps achieved other milestones and is positioned to emerge as a notable, active player among leading crypto swaps exchanges. With thousands of customers routinely using the exchange even during the beta stage, 1Myle Swaps appears to be an attractive resource for customers.
Achievements
During the last quarter:
- Integrated and tested more than double the number of crypto tokens previously processed.
- The number of swap pairs on the platform jumped from 20 original pairs to roughly 1000
- Automated operational availability rose to eight hour daily segments, on the way to 24/7
- This dramatic increase in the number of pairs significantly expands 1Myle capabilities and enhances the likelihood of a series of quarterly gains in revenues over the upcoming quarters.
- Transaction security and safety improved w/2-factor authentications and double AML verification
- Increased activity is also attributed to improved Ethereum(ETH) transaction execution costs
- More popular tokens on 1Myle added; leading tokens include BTC, USDT, ETH, XMR, SHIB, DOGE, DAI, TRX, XRP, SOL, and more
Upcoming Milestones
Today, 1Myle Swaps leadership is focused on growth across the board to meet financial objectives. As a result, the emphasis is to quickly scale the business in terms of revenue, customers, activity, dollar volume, and margins. With a strong back-end and feature-rich front-end, we believe that the company is well-positioned to meet our revenue goal.
In addition to increasing dollar volume and activity, management is focusing on adding new, large customers seeking arbitrage by enhancing our back-end and blockchain integration capabilities. In this fashion, 1Myle Swaps can attract new blockchain networks, add more swaps, and an API to foster e-commerce businesses' financial transactions growth. The company plans to also add new features to the front-end and other interfaces, driving new customer growth.
1Myle Swaps is not just focused on market penetration and customer activity growth but on operating efficiency as well. For example, early on the company employed a large staff of programmers and support staff to operate a bare-bones system and troubleshoot exceptions and errors. As the exchange has evolved, 1Myle Swaps has been able to reduce the number of staff required to operate and maintain the services. This shift should lead to improved efficiency and reduced expenses, with the objective of improving overall profit margins.
Dr. Eduard Nazmiev, Exxe Group CEO, stated, "We are very happy with the progress of the 1Myle swaps team. The progress has been beyond expectations. The 1Myle team will help the company to reach the goal of reaching 100 million in revenue this year. As the new fiscal year starts tomorrow 1Myle's anticipated $20 Million contribution will be very beneficial. In addition, Exxe Group's strength has always been its diversification and we are extremely happy to see that our digital economy businesses bearing fruit."
About Exxe Group
Exxe Group is a diversified fintech, private equity, and real estate company. Exxe Group is an acquisition-driven company. The Company strategy is to acquire controlling equity interests in undervalued companies and undertake an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise.
For additional information please visit the Company's
Website: http://www.exxegroup.com/
Twitter: https://twitter.com/exxegroup
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.
CONTACT:
Exxe Group IR: [email protected]
SOURCE: Exxe Group