Lykke Reports Trades Exceeding $70m in First Year of Operation

The Swiss blockchain startup Lykke issues its first annual business report showing strong performance in 2016.

Lykke, a Swiss blockchain company founded by Richard Olsen of OANDA, has released its 2016 business report, outlining the progress that the company has made during its first full year of operations.

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“Roughly one year ago, in June 2016, we launched the Lykke Wallet app and the Lykke Exchange,” said Lykke founder and CEO Olsen. “Since then, we’ve introduced a steady stream of innovations to serve our growing community of users, even as we’ve reached some important company milestones.”

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Richard Olsen

These milestones include a successful ICO in September 2016, the unveiling of the Lykke Streams crowdsourcing initiative in November 2016, the addition of SolarCoin and Time coin trading in December 2016, the implementation of offchain settlement in May 2017, and integration with Ethereum in June 2017, while achieving 30 percent growth in the user base month over month.

“As of June 1, 2017, our unique trading platform hosted more than 11,000 registered accounts, with users from 135 countries and combined trades exceeding 70 million dollars,” said Olsen. “It’s been a tremendous journey, and we’re just getting started.”

The report offers a preview of Lykke’s future, including margin trading and limit order functionality on the Lykke Exchange, an increased focus on natural capital markets, and further expansion into key global markets, including the United States.

When asked about the fierceness of the competition, Olsen answered: “I find what’s very unique about Lykke is that we take a long-term view of what would be optimal for society and what makes an economic system robust. Our exchange is the direct result of that, based on the ideas of open source and open knowledge. This is unorthodox in finance, but it gives us a powerful competitive edge.”

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