The post SBI’s Winning Formula: Boosting XDC Adoption, Drawing from XRP’s Success appeared first on Coinpedia Fintech News
In a significant move that could reshape the world of blockchain and finance, SBI Holdings has unveiled its winning strategy for the XDC Network, mirroring the successes of XRP. The Japanese conglomerate recently announced a Basic Agreement to establish a Joint Venture with TradeFinex Tech Ltd., the driving force behind the XDC Network, and the implications are profound.
SBI XDC Network APAC Co., Ltd. (tentative)
SBI XDC Network APAC Co., Ltd. (tentative) will play a pivotal role in expanding the reach of the XDC Network. With a primary focus on promoting the adoption of XDC in various applications, including tokenization, trade finance, payments, enterprise subnets, and many more applicable possibilities in web3, it stands as a testament to SBI Holdings’ commitment to driving innovation and growth within the blockchain ecosystem.
XDC Network: Pioneering the Next Generation of Blockchain
The XDC Network is not just any blockchain; it’s a layer-1 blockchain designed to revolutionize global economic activities, particularly in the realms of trade finance, supply chain management, and cross-border payments. With a worldwide presence, the XDC Network has been making waves since its inception.
SBI VC Trade: Leading the Way
SBI Holdings has been quick to recognize the potential of the XDC Network. In May 2023, SBI VC Trade, a subsidiary operating within the SBI Group and specializing in crypto asset exchange, forged a partnership with XDC Network. This partnership marked a significant milestone in Japan’s web3 landscape as SBI VC Trade became the first exchange in the country to handle XDC. Now, users have the option to purchase XDC not only through traditional exchanges like KuCoin, Bitfinex, Gate, and Bitrue but also via the Japanese exchange SBI VC Trade, allowing for XDC trading and staking against the Japanese yen. But they didn’t stop there. SBI VC Trade is actively working to expand XDC’s presence by introducing staking and deposit/withdrawal services and enhancing the overall trading environment for XDC.
The Joint Venture: A Catalyst for Growth
The newly established joint venture between SBI Holdings and TradeFinex Tech Ltd. is set to amplify XDC Network’s impact in Japan. Among its ambitious goals, the joint venture aims to localize XDC Network-related information in Japan, support crypto asset exchange companies looking to handle XDC, and establish partnerships with subnet/layer two companies. Additionally, the joint venture intends to leverage the trade finance solutions provided by XDC Trade Network Pte. Ltd. in the APAC region, offering a wide range of innovative solutions.
Drawing Inspiration from XRP’s Success
XRP’s journey with SBI Holdings is nothing short of inspiring. The partnership between XRP and SBI has resulted in significant advancements, including establishing SBI Ripple Asia and developing the SBI Ripple Asia MoneyTap application. This partnership has demonstrated the potential of blockchain in the financial sector and that strategic collaborations can lead to groundbreaking solutions.
As the web3 community witnessed SBI Holdings’ moves to boost XDC adoption and draw inspiration from XRP’s success, it’s evident that the blockchain world is rapidly evolving. The XDC Network is positioned to play a pivotal role in transformation, focusing on enhancing trade finance efficiency and global economic activities. The collaborative efforts of SBI Holdings and TradeFinex Tech Ltd. are set to open new doors and unlock fresh opportunities in the Web3 and blockchain landscape.