Xunlei Limited To Set Up $100 Million Fund To Invest In Blockchain Technology

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Shenzhen –According to internal source from Xunlei Limited (NASDAQ: XNET), the company plans to set up an investment fund, raising up to 100 million dollars, to invest in blockchain technology, including but not limited to innovation in core technology, innovative business model and related digital assets. As it is still in the preliminary stage, the Company has not disclosed any details. Notably, Xunlei’s stock had surged from $2.68 to $6.83 on Monday after the comments by President Xi in supportive of blockchain technology. 

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 dozens of industries.

It is disclosed that the fund under Xunlei Limited will be operated outside of China and not by its affiliates in China.

xunlei

About Xunlei Limited

Founded in 2003, Xunlei Limited (NASDAQ: XNET) is a global leading innovator in shared computing and blockchain technology. Started more than a decade ago with its patented P2SP technologies for downloading acceleration, including Individual and corporate users are benefiting from multiple products of Xunlei, which include digital entertainment, cloud acceleration, cloud storage, and cloud computing products. With its technological competence in delivering smart, efficient and safe internet experience, Xunlei is ever-expanding its customer base. Xunlei is making giant strides and emerging as a technology leader in the world blockchain application. Venturing modestly into the world of blockchain technology in 2015 in China, it stands out in global blockchain technology space. By offering a portfolio of multiple products and services, Xunlei delivers an efficient, smart and safe Internet experience for its users worldwide. In 2015, Xunlei started to expand into the blockchain sector and launched China’s most popular and widely-used blockchain-based applications, becoming a leader in blockchain technology in the world.

As China’s largest data transmission service provider, Xunlei creates a leading cloud-based acceleration product matrix architecture in downloading acceleration, network acceleration, and uploading acceleration, offering consumer-level products and services including Xunlei Download Manager, Xunlei Live Streaming, Xunlei Media Player, Xunlei Game Accelerator, etc. Built upon the technology innovation, Xunlei has leveraged its resources and technological strengths to enable smart optimization of content delivery acceleration and deliver great user experience. 

As one of the pioneers in cloud computing and blockchain, Xunlei released shared computing-based products in April 2015. A mega-node shared computing network built upon Xunlei’s Minecrafter and OneThing Cloud is now in place. Leveraging its strengths in innovative technologies, big data and computing resources, Xunlei’s shared computing platform StellarCloud, provides numerous corporate customers and partners with leading advanced technological services and successfully leads the industry’s technical progress and service upgrade. Xunlei has also launched ThunderChain, a high-performance blockchain infrastructure capable of handling millions of transactions per second (TPS) with confirmation capability in seconds, which dramatically improves the overall performance standards of the blockchain technology.

Xunlei is committed to technological innovations and enhancing the users’ experience in the digital age via its products and services. Xunlei will continue to explore the future of the Internet through its strengths in shared computing and blockchain technology.