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 the growing momentum of XinFin 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
– ITFA (@ITFAworldwide) August 23, 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 expand 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 is now LIVE! Https: //t.co/iF1bMvAVgL@LedgerMail supported by @XinFin_Official started the decentralized e-mail revolution by reinventing e-mail with decentralized e-mail!
Sign up to get FREE access and $ 10 XDC! pic.twitter.com/Vb43p6sADO
– LedgerMail (@LedgerMail) August 4, 2021
According to the project’s Twitter feed, its mission is to “deliver the highest levels of security, privacy, encryption and email attack defense” in a decentralized manner.
Demand for the service started with total signups in excess of 50,000 within the first week, and new users also received 10 free XDCs for signing up.
Partnerships and Listings
XDC adoption has also grown in recent weeks, thanks in part to new partnerships for the network as well as several new listings.
One of the larger partnerships was 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 on @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) August 17, 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 has resulted in an increase in 24-hour trading volume. These include the expansion of SimpleSwap on July 8th and the integration of Simplex on July 31st.
The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every step of investing and trading involves risk, so you should do your own research when making a decision.