TradeFinex and SBI Join Forces to Expand XDC Network

Today, 29th September 2023, SBI Holdings released a notice stating that they have signed an agreement with TradeFinex to establish a joint venture that will work to expand the use of layer-1 blockchain XDC Network.

The press release noted that XDC “is expected to be used in economic activities around the world, such as trade finance, supply chain management, and cross-border payments”.

This is not the first association between SBI and XDC. In May of this year, SBI VC Trade, a subsidiary of SBI Group, had previously partnered with XDC Network and began trading XDC.

XDC Network has also collaborated with major entities like the WTO and ICC, offering innovative solutions to enhance transparency, reduce costs, and minimize credit risk in the trade finance sector.

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The new venture, SBI XDC Network APAC Co., Ltd., aims to drive XDC adoption within Japan, localize information, and support crypto exchanges looking to handle XDC.

Read and learn more about XDC Network and its potential role in the future of trade finance:

• XDC Network: The Blockchain Revolutionizing Trade Finance
• XDC Network Leveraged for Tokenized Treasury Bonds
• Why the Electronic Trade Documents Bill is a Game Changer for Trade Finance Blockchains