NEW YORK, Nov. 6, 2020 /PRNewswire/ -- Exxe Group, Inc. (OTC PINK: AXXA), a fintech company focused on synergistic diversified acquisitions is pleased to release a corporate update on its revamped UK-based currency exchange services operations which is on track to launch this month. AXXA is targeting first year revenue generation from 1Myle in excess of $15 million.
On November 5, 2020 Vinza Limited, AXXA's UK financial software services company, was renamed 1Myle Limited. The new name and revamped corporate vision positions 1Myle for success as an exchange services operator and a focused high frequency arbitrageur. In this role, 1Myle buys and sells alt currencies, including Bitcoin, taking advantage of price differentials.
One of 1Myle's key advantages in the marketplace is its proprietary software which hedges currency fluctuations and books gains in fiat. The hedging operation allows the Company to continually profit irrespective of price movements or direction. As a result, corporate parent AXXA continually increases its net Bitcoin asset bases via 1Myle without needing to commit additional fiat currency.
Revenue is generated through proprietary in-house algorithms which offers small traders the ability to access liquidity on the largest global exchanges and enables 1Myle to capitalize on the volume of their combined trades. The Software as a Service (SaaS) platform also provides a turnkey solution for traders and financial organizations operating at the intersection of fiat and digital assets that covers all stages of the transaction life from origination to financial statements.
1Myle is on track to complete all license amendment and name registration processes with the Exchanges this month. As part of the plan, Exxe Group agreed to commit $300,000 to Myle-One Beteiligungen AG. AXXA's initial funding transactions were completed in October 2020.
Eduard Nazmiev, Ph.D., CEO and President of Exxe Group commented: "AXXA has been focused on building and acquiring financial technologies for several years. Our ability to launch new btc fiat exchange services comes at a time when interest in Bitcoin and non-fiat assets are growing around the world. 1Myle is the crystallization of an effort that will see a massive expansion of AXXA's capabilities and revenue generation capabilities."
About Exxe Group, Inc.
Exxe Group is a diversified corporation focusing on acquisitions in the following sectors: real estate, sustainable and digital technology, media, agribusiness, and financial services. 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 go to www.exxegroup.com.
CONTACT: Exxe Group IR: firstname.lastname@example.org, +1-855-285-2285
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.
SOURCE Exxe Group, Inc.