The enterprise hybrid blockchain solution, XDC Network, formerly known as XinFin, has made significant strides in expanding its reach in the Japanese market through a strategic partnership with SBI VC Trade, a subsidiary of Tokyo-based financial holding company SBI. This collaboration marks a significant step for the enterprise hybrid blockchain solution, XDC Network.
Fumiki Ozaki, the CEO of SBI VC Trade, expressed his enthusiasm about the collaboration, stating, “We are delighted to expand our cryptocurrency offerings by adding XDC to our exchange.
XDC Network brings a unique value proposition to the trade finance market, and we believe its addition will enhance our customers’ trading experience.”
The XDC token has been gaining significant traction recently, becoming one of the top 5 altcoin gainers in March 2023, with a remarkable 54% surge in just 30 days.
The network’s appeal lies in its support for Ethereum Virtual Machine-compatible smart contracts, protocols, and atomic cross-chain token transfers.
Additionally, it complies with the ISO-20022 message standard, an internationally accepted benchmark for electronic data interchange among financial institutions.
In an effort to further enhance the network’s governance, XDC Network has also embarked on a decentralization journey by establishing a decentralized autonomous organization (DAO).
This move empowers the community to determine the allocation of ecosystem funds to drive development initiatives.
Atul Khekade, the co-founder of XDC Network, expressed excitement about the partnership with SBI VC Trade, highlighting Japan’s significance as a crucial hub for international trade and emphasizing the platform’s goal of streamlining the sector by improving transparency, traceability, and reducing costs.
After a fruitful collaboration, the native cryptocurrency of XDC Network, XDC, experienced an impressive surge of over 25% within the past 24 hours. This remarkable performance positioned XDC as the top gainer of the day. As of the current time, the XDC/USDT pair is trading at $0.0394 and is anticipated to exhibit further substantial gains in the coming days.
Meanwhile, SBI continues to strengthen its foothold in prominent cryptocurrency markets. Having obtained a license to operate in Singapore in September 2022, the financial holding company’s investee, Clear Markets, also received approval from the United States Commodity Futures Trading Commission to provide over-the-counter crypto derivatives products with a physical settlement.
Also Read: Binance Launches Regulated Crypto Trading Platform in Japan
