Enterprise hybrid blockchain solution, XDC Network – formerly known as XinFin – has increased its presence in the Japanese market through a partnership with SBI VC Trade, a cryptocurrency exchange subsidiary that holds the financial institution SBI based in Tokyo.
On May 31, the XDC network announced that it will be added to the SBI’s crypto exchange support. The report was confirmed by the director of the revolution Fumiki Ozaki:
“We are excited to expand our cryptocurrency offerings by adding XDC to our exchange. The XDC network brings a unique value proposition to the trading currency market, and we believe its addition will improve the trading experience of our customers.”
In March 2023, the XDC token became one of the top 5 altcoin gainers, rising 54% in 30 days. The network supports the Ethereum Virtual Machine-enabled smart contract, protocol, and atomic cross-chain token delivery.
It complies with the ISO-20022 information standard, an internationally accepted standard for electronic data exchange between financial institutions. Recently, XDC Network decided to expand blockchain governance by creating an independent forum. After the delivery in May, the community will decide the distribution of environmental funds to support development. XDC Network founder Atul Khekade said in the latest announcement:
“We are pleased to partner with SBI VC Trade and bring the XDC ecosystem to the Japanese market. Japan is an important location for international trade, and our blockchain platform aims to further expand this area quality by improving transparency, traceability and reducing costs.
SBI is increasing its presence in major crypto markets. In September 2022, he received a permit to work in Singapore. Earlier, one of its providers, Clear Markets, received approval from the US Commodity Futures Trading Commission to offer OTC crypto derivatives on physical settlement.
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