SBI Holdings and TradeFinex Tech Ltd. Unveil Strategy for XDC Network Development
Date: 2023-10-04 Author: Dima Zakharov Categories: BLOCKCHAIN
SBI Holdings, a Japanese financial conglomerate, in collaboration with TradeFinex Tech Ltd., has announced its strategy for the development of the XDC network, a next-generation blockchain. This significant move could have a substantial impact on the world of blockchain and financial technologies.
XDC Network APAC Co., Ltd.: Key Role in Expansion
SBI XDC Network APAC Co., Ltd. will play a crucial role in expanding the reach of the XDC network. The company is focusing its efforts on the adoption of XDC in various applications, such as tokenization, trade finance, payments, and corporate subnets. This reflects SBI Holdings' commitment to fostering innovation and growth within the blockchain ecosystem.
XDC Network: Innovation in the World of Blockchain
The XDC Network is not just a blockchain; it is a layer 1 blockchain designed to revolutionize global economic activities. It promises to bring about a revolution in areas such as trade finance, supply chain management, and international payments. Since its inception, the XDC network has garnered attention worldwide.
SBI VC Trade: Partnership and Leadership
SBI Holdings recognized the potential of the XDC network, and in May 2023, its subsidiary, SBI VC Trade, specializing in cryptocurrency exchange, entered into a partnership with XDC Network. This partnership marked a significant milestone in the development of Web3 in Japan. SBI VC Trade became the first exchange in the country to work with XDC, allowing users to acquire XDC through various exchanges and trade it against the Japanese yen. The company is actively working on expanding the platform by providing additional services and enhancing the overall trading environment for XDC.
Joint Venture: Key Growth Catalyst
The recently established joint venture between SBI Holdings and TradeFinex Tech Ltd. aims to strengthen the position of the XDC Network in Japan. Among its ambitious goals are the localization of XDC-related information in Japan, support for companies in the cryptocurrency exchange sector looking to work with XDC, and the establishment of partnerships with second-level subnet companies. The joint venture also intends to leverage trade finance solutions provided by XDC Trade Network Pte. Ltd. in the Asia-Pacific region to offer a wide range of innovative solutions.
