Adopting blockchain technology into businesses is a major long-term goal of the cryptocurrency community as the integration of digital currencies into day-to-day business activities will bring new users to the ecosystem and boost on-chain activities.
One protocol that has become increasingly important in enterprise adoption is XinFin Network (XDC), an enterprise-grade hybrid blockchain solution designed specifically to optimize international trade and finance.
Data from Cointelegraph Markets Pro and TradingView show that after hitting a low of $ 0.0673 on July 20, the price of XDC rose 190% to hit a new all-time high of $ 0.1952 on August 21 Has.
Three reasons for XinFin’s growing momentum are the inclusion of the XDC network in the global TFD initiative, the release of the decentralized email solution LedgerMail, and a growing ecosystem of partners and stock exchanges.
Takeover by a global trading network
One of the most significant developments for the XDC network was its inclusion in the global Trade Finance Distribution (TFD) initiative, a consortium of trade originators, credit insurers and institutional donors with the aim of increasing automation and transparency in asset trading and risk distribution .
XinFin XDC Network – a network utility that provides intelligent contract technology to produce cryptographic tokens – the first blockchain company to join the Global TFD Initiative. Https://t.co/NaOaRGuhOZ pic.twitter.com/kTKEMmQfZp
– ITFA (@ITFAworldwide) 23 August 2021
According to André Casterman, chairman of the Fintech Committee of the International Trade and Forfaiting Association (ITFA), the addition of the XDC network “enables the organization to drive the $ 19 trillion trade finance asset class through tokenization and digital assets of all kinds To connect donors ”. . “
The importance of this integration for XinFin cannot be overstated as it works with some of the largest global financial institutions and leading service providers such as AIG, Santander Asset Management, ING Bank, International Chamber of Commerce, Standard Bank, Commonwealth Bank of Australia, Texel Group and Lloyds Bank.
The overall goal of the TFD initiative is to create a more robust trade finance ecosystem by defining new technology-based market practices and transaction data specifications to improve the accessibility and transparency of trade flows.
LedgerMail will be the world’s first decentralized email solution
Another reason for XDC’s surge was the release on August 4th of LedgerMail, “the world’s first decentralized email solution,” powered by the XDC network.
The industrial revolution 4.0 has officially started!
– LedgerMail (@LedgerMail) 4th August 2021
According to the project’s Twitter feed, its mission is to “provide the highest levels of security, privacy, encryption and defense against email attacks” in a decentralized manner.
Demand for the service was skyrocketing with the total number of registrations surpassing 50,000 within the first week, a new user also received 10 free XDCs for signing up.
Partnerships and Listings
XDC adoption has also increased in recent weeks, thanks in part to new partnerships for the network as well as several new listings.
One of the bigger partnerships was his integration with Shopping.io, an e-commerce project that allows users to use cryptocurrencies to pay for items on Amazon, eBay, Walmart, and Etsy. As an added benefit, purchases with XDC receive a 2% discount and users who also own Shopping.io’s native SPI token can receive an additional 12% discount.
XDC has also partnered with HAPI, an on-chain cybersecurity protocol for decentralized financial products (DeFi) that helps increase security and prevent hacking attempts.
We are happy to announce that the HAPI protocol will be integrated @XinFin_Official
XinFin’s XDC network is a leading hybrid blockchain protocol designed to support institutional use in asset tokenization and decentralized funding.
Details here: https://t.co/trZNwiq9tw
– HAPI | Onchain cybersecurity protocol for DeFi (@i_am_hapi_one) 17th August 2021
HAPI is a series of cross-chain smart contracts that are embedded in DeFi products and enable them to achieve a new level of security.
Several recent listings have also benefited XDC as the improved access led to an increase in 24-hour trading volume. This includes July 8th additive to SimpleSwap and a July 31st integration with simplex.
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