 | |
| Denominations | |
|---|---|
| Code | $XDC |
| Development | |
| White paper | xinfin |
| Development status | Active |
| Ledger | |
| Ledger start | June 1, 2017; 7 years ago (2017-06-01) |
| Block explorer | explorer |
| Website | |
| Website | xdc |
XDC Network is a hybrid Blockchain technology optimized for international trade and finance.[1][2] The XDC Network is powered by the native coin called XDC.[3][4] XDC Network was launched in 2017 by a Singapore-based technology company XinFin Fintech.[3] XDC Network is the first hybrid blockchain that combines the features of public and private blockchains with interoperable smart contracts.[5] The XinFin chain uses Delegated Proof of Stake (XDPoS).[6] XinFin has conducted projects in areas such as aviation, international trade, and others.[7]
XDC Network was launched in 2017 by Singaporean technology firm Xinfin Fintech.[8] It was founded by a group of entrepreneurs: Sameer Dharap, Peter Yeo, Jack Xu, Atul Khekade, Ritesh Kakkad, and Karan Bharadwaj.[3] In 2021, XDC Foundation was formed to promote and support ecosystem development across the network.[9] XDC Network became the first blockchain company to join the global Trade Finance Distribution (TFD) Initiative in 2021.[10] ComTech Gold token, built on the XDC network became the first gold blockchain company in the MENA region to receive Shariah certification in September, 2022.[11][12]
In 2022, XDC Network secured a $50 Million investment from LDA Capital in a token sale.[13][14] Xinfin collaborated with Tradeteq to launch TRADA tokens, the first regulated, trade finance-backed fungible security tokens on the XDC Network in 2022.[15][16][17] Major League Soccer’s (MLS) DC United announced XDC Network as their new shirt sponsor on a three-year deal in February, 2022.[18][19] In 2023, Indian DCB Bank announced that it was migrating its insurance system to the XDC Network.[6] KoinX, a tax calculation software company, integrated XDC Network to its platform in April 2023.[20]
In December 2017, TradeFinex a decentralized platform that runs on XDC Network was launched.[3] TradeFinex is a peer-to-peer platform for trade finance originators to distribute deals to a wide range of bank and non-bank funders.[5][21] TradeFinex provides a marketplace for peer-to-peer trade and SCF transactions utilising cryptocurrencies.[22] The TradeFinex platform offers real-time cross-border payments and settlements via the XDC network.[23] According to a report by the World Trade Organisation, TradeFinex is commercially active with receivables discounting, letter of credit, securitisation, bank guarantees, and digital bills of lading applications.[21][22] In September 2018, XinFin was one of ten participants in the Abu Dhabi Global Market (ADGM)’s RegLab program to live-test TradeFinex with SMEs in the MENA region while working directly with government regulators to ensure compliance.[24][25] In 2020, ANZ Bank partnered with XDC to apply blockchain to its trade finance network.[26] Using XinFin's XDC network, the first non-fungible token transaction was executed.[26]
