SBI Subsidiary Joins Forces with XDC Network for Japan Expansion

In a bid to solidify its position as a global leader in blockchain solutions and drive digital transformation in the finance sector, the XDC Network, previously known as XinFin, has formed a strategic partnership with SBI VC Trade Co. Ltd, the cryptocurrency exchange subsidiary of Tokyo-based financial holding company SHI Group.

This collaboration marks a significant step for the enterprise hybrid blockchain solution, XDC Network.

The XDC Network made an important announcement on May 31, revealing its addition to SBI’s crypto exchange subsidiary as a means to establish a foothold in the Japanese market. 

Fumiki Ozaki, President and CEO of SBI VS Trade, expressed their delight in expanding their cryptocurrency offering by incorporating XDC into their exchange.

Also added, “XDC Network brings a unique value proposition to the trade finance market, and we believe its addition will enhance our customers' trading experience.”

The XDC Network is equipped with support for Ethereum Virtual Machine-compatible smart contracts, protocols, and atomic cross-chain token transfers.

Additionally, it adheres to the ISO-20022 message standard, which is widely recognized as the international standard for electronic data interchange between financial institutions.

According to Atul Khekade, one of the co-founders at XDC Network, “Japan is a crucial hub for international trade, and our blockchain platform aims to streamline this sector by improving transparency, traceability, and reducing costs.

Through our collaboration with SBI VC Trade, we look forward to empowering businesses and financial institutions in Japan with the benefits of the XDC Network.”

After a fruitful collaboration, the native cryptocurrency of XDC Network, XDC, experienced an impressive surge of over 25% within the past 24 hours. This remarkable performance positioned XDC as the top gainer of the day.

As of the current time, the XDC/USDT pair is trading at $0.0394 and is anticipated to exhibit further substantial gains in the coming days.

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