XDC strengthens position in Japan through partnership with SBI

Under the slogan of innovation and expansion of the XDC Network, the enterprise hybrid blockchain solution formerly known as XinFin is paving the way for greater influence in Japan’s financial markets.

This ambitious goal was realized through a strategic partnership with SBI VC Trade, a reputable cryptocurrency exchange subsidiary of Tokyo-based financial giant SBI Holdings.

New Horizons: XDC Network and SBI VC Trading Partnership

The collaboration was publicly confirmed on May 31st when XDC Network proudly announced its integration into SBI’s cryptocurrency exchange division.

Fumiki Ozaki, CEO of the exchange, expressed his delight at the prospect of offering XDC as part of their growing portfolio of cryptocurrencies.

He praised the value proposition XDC Network for Trade Finance Marketemphasizing his belief that this add-on will significantly improve the trading experience of his clients.

The XDC network is a universal platform for financial innovation, and its blockchain supports smart contracts compatible with the Ethereum virtual machine, various protocols, and atomic transfer of tokens between chains.

It also complies with the ISO 20022 messaging standard, the global benchmark for electronic data interchange between financial institutions.

SBI: a powerful player in the global crypto markets

This partnership is also indicative of SBI’s concerted efforts to build a prominent presence in the vital crypto markets. In September 2022, the company received a license to operate in Singapore.

In another progressive move, Clear Markets, an SBI investee, has been approved by the US Commodity Futures Trading Commission to offer physically settled OTC crypto derivatives.

This partnership between XDC Network and SBI VC Trade symbolizes a combination of technological innovation and strategic expansion. As the ecosystem is deeply rooted in the Japanese market, its unique offerings promise to redefine the trade finance landscape.

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