XinFin XDC Network’s trade finance platform, TradeFinex, has gained recognition from the International Chamber of Commerce (ICC), the World Trade Organization (WTO), Citi Group, and Trade Finance Global. The COO of XinFin, Sunil Senapati, has predicted a significant rise in blockchain adoption in trade finance due to legal acceptance of digital trade documents, such as the Electronic Trade Documents Bill (HL Bill 57), recently introduced in the UK Parliament. Senapati highlighted that “around 80% of world trade is based on English law,” and he forecasted that the percentage of global trade flows involving digitized processes and blockchain technology would reach two digits by 2025. Senapati noted that by 2030 and beyond, wider adoption would require simpler applications, low or no costs to use the basic functionalities, and new liquidity providers to support the trades.
XDC Network’s platform was chosen in 2021 as the first blockchain company to join the global Trade Finance Distribution (TFD) Initiative, a consortium of trade originators, credit insurers, and institutional funders on a mission to boost automation and transparency in trade asset and risk distribution. In 2022, Tradeteq, a member of the World Economic Forum, partnered with XinFin to launch TRADA tokens, the first regulated, trade finance-backed fungible security tokens, expected to improve liquidity for the trade finance sector by securitizing an illiquid asset class on XinFin’s XDC Network.
The ICC, Trade Finance Global, and WTO Whitepaper Periodic Table mentioned TradeFinex, which specializes in the deployment of tokenized assets on Public/Private Blockchain Networks via regulator-friendly instruments to resolve electronic Bills of Lading (eB/Ls) issues. The World Trade Organization also introduced Tradefinex and XDC in their book BLOCKCHAIN & DLT IN TRADE: WHERE DO WE STAND?
XinFin XDC Network is a global, open-source, delegated proof of stake consensus network, enabling hybrid relay bridges, instant block finality, and interoperability with ISO 20022 financial messaging standards. The network’s hybrid architecture is designed to support institutional use in trade finance and tokenization and is equipped to reduce the existing finance gap in global infrastructure. With interoperable smart contracts, 2,000 transactions per second, and Ethereum Virtual Machine compatibility, the XDC Network provides a scalable infrastructure for enterprises and independent community contributors.
TECH’S IMPACT: E-COMMERCE, AI, BLOCKCHAIN TRANSFORMING TRADE
