SBI Group and XDC Network: A Perfect Match Driving Innovation in Web3 Infrastructure
Up to now, the SBI Group has been providing various services related to the XDC Network, including becoming Japan’s first exchange to start handling XDC tokens, through a partnership agreement with SBI VC Trade, a company providing crypto asset exchange services within the SBI Group. Now they are set to drive innovation in Web3 Infrastructure.
Intitially, the SBI Group focused their intent for providing services related to the XDC coin, but now also strive to expand the use cases of the XDC Network’s blockchain technology in global economic activities, particularly in the fields of trade finance and cross-border payments.
Furthermore, as the first project after the establishment of the joint venture, SBI XDC Network APAC has started a proof-of-concept (PoC) experiment that connects the XDC Network, the Corda platform provided by SBI R3 Japan and the Corda Bridge provided by IMPEL GLOBAL.
In this experiment, fiat payments generated by business-to-business transactions will be conducted in XDC via Corda and Corda Bridge. By utilizing a hybrid blockchain with both private and public characteristics, it is possible to provide a one-stop service that settles both private, such as information of transactions, and public, such as the transfer of value, at once. As a result, this offers an efficient and smooth payment method for cross-border transactions, including international trade, compared to conventional fiat currency transactions.
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SBI VC Trade Representative Director
CEO SBI XDC Network APAC
Tomohiko Kondo is the Representative Director of SBI VC Trade & CEO of SBI XDC Network APAC.
“Until now, in Japan, there was no base to widely spread awareness of the usefulness of the XDC Network, and the environment was such that active information dissemination and marketing activities were not sufficient.
With the establishment of a joint venture with the SBI Group, we will be able to establish a base for this purpose, and will be able to more proactively disseminate information and expand our interactions with business partners through the SBI Group”.
Director, COO SBI XDC Network APAC
Head of Japan, XDC Network
Tadashi Yoshida is the Director COO of SBI XDC Network APAC and the Head of Ecosystem in Japan for the XDC Network