SAN DIEGO--(BUSINESS WIRE)--XYO Network, the technology bringing blockchain to the real world, today announced it has been approved and will list on Estonia-based cryptocurrency exchange LATOKEN, with buying and trading beginning December 7, 2018. XYO is excited to debut the listing news because the user experience with LATOKEN is known to be positive, and the exchange has an impressive average daily trading volume of $50 million, earning the exchange its spot in the ‘Top 50’ global cryptocurrency exchange rankings.
This announcement is the first in the execution on the XYO Intelligent Exchange Strategy (IES), allowing both accredited and non-accredited investors to purchase XYO from an exchange beyond the current relationship with IDEX. As explained in detail on the company blog, XYO is currently fielding agreements from ten leading exchanges, all within the top 100.
LATOKEN is a rapidly-growing cryptocurrency exchange that focuses on providing liquidity for new tokens in the market. According to the company, LATOKEN reached the top 50 ranking in terms of trading volume, according to CoinmarketCap. The company has more than 80,000 registered traders and there are more than 180 different cryptocurrency trading pairs available. LATOKEN offers low trading and withdrawal fees and other attractive features such as instant exchange, advanced trading features and crypto / fiat gateway.
"We're proud to have XYO Network list XYO on LATOKEN," commented Valentin Preobrazhenskiy, CEO of LATOKEN. "We like and appreciate the leadership the company is showing in the location-validation space and the many applications of what they are doing. It's clear they are on the verge of doing even more amazing things. The future is bright for XYO and we're happy to have them launch on our exchange."
The XYO IES goes well beyond simply choosing exchanges with positive reputations and significant trading volume. XYO is listing on exchanges to make a global impact, to ensure that people globally have access to the “fuel” for the XYO network, and also to educate about the powerful relative location-verification network currently being built out.
“It’s important that XYO be listed on LATOKEN and many other strategically chosen exchanges, for a couple of very good reasons,” commented Scott Scheper, XYO Network Co-founder and Chief Marketing Officer. “First, the global exposure. We founded XYO on the idea of creating a ‘people-powered’ location network. Being listed on the right exchanges, and particularly those overseas, gets XYO into the hands of people who otherwise might have never heard of us, or the new world of Geomining and Geodapps. So our network grows and becomes more valuable.”
Scheper continued: “Secondly, it’s about price stability. Being listed on more exchanges should create better price stability for XYO. As part of a healthy network ecosystem, working with more exchanges such as LATOKEN gives us a better opportunity to create a more stable XYO price, making it a more attractive incentive mechanism for Geominers. And one more important thing I know our community will appreciate, since we listen carefully to the input and feedback we get regularly: By ending our GAMMA Stage XYO Token Sale and starting to list on exchanges, the market will now determine the price of XYO Tokens, period.”
About XYO Network
XYO Network is an effort to create a vast, geospatial, blockchain-powered location network currently under development with the goal to provide accurate, certainty-driven location data on everything from cars to smartphones. By combining location beacons with IoT and mobile devices, the XYO Network ecosystem plans to deliver the verified coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a legion of location-centric applications. For more information, please visit https://xyo.network.