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The Rise and Adaptation of LiveTrade during the COVID-19 Pandemic

LiveTrade is amongst the few enterprises achieving remarkable advancement regardless of the negative impacts of COVID-19. How has LiveTrade adapted and made significant strides in these difficult times?

Vietnam’s GDP is expected to expand by about 4.8 percent in 2021. This number is two percentage points lower than the projection made by the World Bank Group in December, reflecting the negative impacts of the ongoing COVID-19 wave on the economy. With more than 70,000 businesses dissolved and millions of people losing their jobs, COVID-19 has become a national disaster for all areas of Vietnam.

As social distancing continues, the Vietnamese Government is forced to find ways to connect businesses, and technology adoption is almost the only solution. The COVID-19 crisis has accelerated the digital transformation of the local economy as an increasing number of businesses in Vietnam are now offering their services online. The government has also enhanced the digitalization of its procedures and databases, specifically by issuing Decision no. 942/QD-TTg on leveraging and applying new digital technologies.

Taking blockchain-based orientation at a very early stage, LiveTrade has been ahead of this transformation trend. Our products and services emerge as an effective solution to business needs in these challenging times. We have taken advantage of blockchain and decentralized finance (DeFi), which have the potential to offer multipurpose business applications for a range of industries.

LiveTrade’s optimized fundraising solution – Digital Initial Private Offering (DIPO) – has addressed SMBs’ need for capital resources during the COVID-19 pandemic. SMBs are struggling to survive this hard time and soon realize that it is now much challenging when seeking financial support from traditional investors, such as venture capitalists or from lending institutions. Using blockchain to tokenize businesses’ assets, DIPO provides quick access to financial resources at lower costs while still ensuring transparency and security. In fact, the DIPO model has successfully raised a total of $30M for 9 projects within only one year and reached $150M all-time-high market capitalization of all projects. Many large enterprises are approaching and discussing with LiveTrade with the goal of raising capital to grow their operation scale, especially developing projects related to digital transformation. LiveTrade also receives support from many major financial and technological partners.

Another product that is expected to capture public attention is the LiveTrade App – an online stock trading application with zero commission that enables users to invest as little as $1. The app utilizes blockchain technology to digitize traditional stocks, thereby allowing the purchase and sale of a fraction of stock. Despite the COVID-19 pandemic, the Vietnamese securities indexes have continually set new records, helping the stock market enjoy the second-fastest growth rate in the world. People tend to spend their quarantine time and idle money to earn extra profit to survive their financial difficulties. This will be a dreamlike opportunity for the LiveTrade App as it solves all the problems of the traditional stock market such as complex procedures, large capital, and slow transactions by integrating blockchain technology into a simple interface.

Besides, LiveTrade also developed the LTD token and LiveTrade DApp, the key drivers of the open platform to provide open-sourced technological and financial solutions for the industry. The LTD tokens will be utilized in LiveTrade’s three core products and services: DIPO, Digital Asset Banking, and the LiveTrade App, from serving as the main base for transactions and conversions, growing user base, accessing various premium features. In addition, LiveTrade DApp offers a platform not only for tokens as other DeFi platforms but also for tokenized stocks, which fully integrates all components of our LiveTrade ecosystem.

The recovery of the global crypto market together with the explosion of cryptocurrency in Vietnam is reflected by the global first rank of this country in terms of cryptocurrency adoption (Chainalysis’s 2021 Global Crypto Adoption Index). To meet the demand of this emerging crypto community, LiveTrade provides Digital Asset Banking, enabling individual users and businesses to access more diverse financial resources. They can maintain their asset ownerships and future appreciation potential while still receiving the necessary financing for reinvestment and consumption. The users’ assets are covered by leading digital asset insurance companies in the world such as BitGo and Ledger Vault.

In short, besides negative impacts, the pandemic provides opportune circumstances for enterprises that can obtain acumen and timely grasp opportunities. Being well-prepared for new changes and challenges with reasonable strategy, LiveTrade is confident that we can accept and cope with any difficulties. The achievements have proved the suitability of LiveTrade’s orientation in building internal resources and enhancing products and services with advanced technology.

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