Enterprise hybrid blockchain solution XDC Network (formerly XinFin) has expanded its presence in the Japanese market by partnering with SBI VC Trade, the cryptocurrency exchange subsidiary of Tokyo-based financial holding company SBI.
On May 31, XDC Network announced that it would be joining SBI's cryptocurrency exchange subsidiary. Fumiki Ozaki, CEO of the exchange, confirmed the news: “We are excited to expand our cryptocurrency offering by adding XDC to our exchange. The XDC Network brings a unique value proposition to the trade finance market and we believe its addition will enhance our clients' trading experience."
In March 2023, the XDC token became one of the top 5 altcoin gainers, gaining 54% in 30 days. The network supports smart contracts, protocols and atomic cross-chain token transfers compatible with the Ethereum Virtual Machine. It also complies with the ISO -20022 messaging standard, the internationally recognized standard for electronic data exchange between financial institutions. Recently, XDC Network decided to decentralize the governance of the blockchain by forming decentralized autonomous organizations. After the deployment in May , the community will decide on the allocation of ecological funds to facilitate development. Atul Khekade, co-founder of XDC Network, commented on the latest announcement:
"We Are Excited to Partner with Sbi Vc Trade and Bring the XDC Ecosystem to the Japanese Market. Japan is an important hub for interior and our blochain. Platform Aims to Simplify this indullry by improving transparency, traceability and reducing counts. "Sbi is also increasing its presence in major cryptocurrency markets. In September 2022, it received a license to operate in Singapore. Earlier, one of its investors, Clear Markets, received approval from the US Commodity Futures Trading Commission to offer physically-settled over-the-counter cryptocurrency derivatives.
