SHENZHEN, China, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Xunlei Limited (“Xunlei” or the “Company”) (Nasdaq: XNET), a leading cloud-based bandwidth acceleration technology company in China, today announced that the Company has entered into a transaction with Beijing LinkChain Co., Ltd. (“Beijing LinkChain”), an independent third party, to transfer its overseas LinkToken program (the “Transfer”).
Pursuant to the Transfer, Xunlei will transfer the exclusive right to operate LinkToken program outside mainland China, including without limitation, the formulation, amendment and execution of the rules governing the rewarding of LinkToken to users of overseas LinkToken program, LinkToken Pocket, and the related assets and liabilities to Beijing LinkChain. While the exclusive right to operate the overseas LinkToken program has been transferred, overseas users of OneThing Cloud device will still be able to obtain LinkToken via contributing their idle computing resources and redeem products and services in LinkToken Mall. Xunlei will also continue to leverage shared computing and blockchain technology to provide enterprise customers with cloud computing services.
Upon the completion of this Transfer and the restructuring of the LinkToken program within mainland China, which was announced on September 17, 2018, Xunlei will no longer operate the LinkToken program. Instead, the Company will be fully committed to become a dedicated provider of the underlying blockchain technology and infrastructure, such as ThunderChain and ThunderChain File System (TCFS).
Xunlei Limited ("Xunlei") is a leading cloud-based bandwidth acceleration technology company in China. Xunlei operates a powerful internet platform in China based on cloud computing to provide users with quick and easy access to digital media content through its core products and services, Xunlei Accelerator and the cloud acceleration subscription services. Xunlei is increasingly extending into mobile devices in part through potentially pre-installed acceleration products in mobile phones. Benefitting from the large user base accumulated by Xunlei Accelerator, Xunlei has further developed various value-added services to meet a fuller spectrum of its users' digital media content access and consumption needs.
Safe Harbor Statement
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Source: Xunlei Limited