XDC Network, formerly known as XinFin, an enterprise hybrid blockchain solution, has collaborated with SBI VC Trade, a cryptocurrency exchange subsidiary of SBI, a Tokyo-based financial holding company, to expand its influence in the Japanese market, stated Cointelegraph.
Sources revealed on May 31, 2023, the XDC Network announced its partnership with SBI’s crypto exchange subsidiary. “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,” Fumiki Ozaki, CEO, XDC Network, tweeted.
As reported by Cointelegraph, the network supports Ethereum Virtual Machine-compatible smart contracts, protocols and atomic cross-chain token transfers. Supposedly, it also maintains the ISO-20022 message standard, an internationally accepted standard for electronic data interchange between financial institutions, Cointelegraph added.
“We are thrilled to partner with SBI VC Trade and bring the XDC ecosystem to the Japanese market. Japan is a crucial hub for international trade, and our blockchain platform aims to streamline this sector by improving transparency, traceability and reducing costs,” Atul Khekade, co-founder, XDC Network, told Cointelgraph.
(With insights from Cointelegraph)
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