Singapore, March 20, 2018—Singapore based Blockchain Technology Company, XinFin that focuses on blockchain protocol development to power larger enterprises to create real-world use cases by tokenizing various physical assets and powering a global peer-to-peer trade and finance platform called tradefinex.org has successfully conducted its initial coin offering (ICO) recently. The company raised $15 million USD equivalent digital assets, which is a sign of great confidence from global user base towards the fastest growing blockchain based ecosystem.
XinFin’s Co-Founder, Peter Yeo said:
We are really excited to announce that within a week of initial offering our Utility token XDCE is now available for trading on various public exchanges like Bancor.network (https://www.bancor.network/), Koinok.com (https://www.koinok.com/), Alphaex.net (https://alphaex.net/), Forkdelta https://forkdelta.github.io/ and Etherflyer.com https://www.etherflyer.com/. This will make it effortless for our users to convert their utility tokens, providing them with continuous liquidity not even against Bitcoin, Ripple, Bitcoin Cash and Ethereum but also against local fiat currency. We will keep adding more exchanges to get more flexibility and demonstrate real world use cases with various government and Institutions using XDC utility token
XinFin’s protocol XDC01 powers Tradefinex.org platform which caters to small farmers, individuals or small businesses worldwide that remain unbanked due to lack of financial setup and remote locations. These deserving populations are either denied loans by traditional banks or have to undergo expensive ‘centralized’ banking procedures. XinFin’s financial mechanism called TradeFinex enables buyers secure capital at globally competitive rates, gives suppliers visibility on global tenders & customer base and provides financiers real-time visibility on their investments. Cross-border trade finance is of the prominent use-cases of XDC catering to $27 Trillion of the global market. XinFin is currently working on several industrial projects in Banking, Solar, Tourism, Aviation, Supply Chain Logistics etc. and deploying customized solutions across business process re-engineering, supply chain, financing, procurement, reconciliation, settlement and more.
The XinFin ecosystem will support price stability of FIAT currencies, upcoming national cryptocurrencies and existing cryptocurrencies through monitoring activities like KYC, AML on TradeFinex platform. XinFin will seek necessary KYC, AML information from the entities that use the XDC platform and will collaborate with them to re-engineer their compliance process using blockchain technology to drive further efficiencies.
Peter Yeo added:
Unlike Bitcoin and Ethereum, XinFin comes with a Hedge Pool functionality which will protect its participants from fluctuations in the XDC token price at the time of procurement and settlement. Participants get payment as per the agreed FIAT currency value irrespective of volatility. Secure and auditable smart contracting standardizes fiduciary use cases by re-engineering and automating traditional lending and trade finance. Underlying digital tokens can be liquidated against FIAT currencies or other cryptocurrencies.
XinFin hybrid network runs on a delegated proof of stake consensus between trusted master nodes and is powered by its next-generation digital token called XDC which also acts as the underlying fuel without using high energy and hash power making XDC as Green utility Coin. IoT atop XDC protocol allows real-time data to be uploaded on the blockchain. XDC01 protocol is a regulatory compliance which makes XinFin utility tokens very appropriate for trade and finance. It works as a messaging and confirmation layer for domestic and cross-border approved payment. Approved financial institutions can use XDC token as a payment and settlement layer which makes it sector agnostic.
XinFin (http://www.xinfin.io) is a Blockchain technology company that has built enterprise friendly Hybrid Blockchain and platform for international trade and finance. XinFin launched TradeFinex at Assocham (http://www.assocham.org) in Asia and extended the platform to over 450,000 participating enterprise members. Ramco systems (http://www.ramco.com), part of global $1 Billion conglomerates has chosen XinFin to deploy blockchain solutions for 500+ of its clients in Aviation, Supply Chain and HR.
Follow XinFin on Twitter (@XinFinF), on Telegram (https://t.me/xinfintalk) and on Slack (https://xinfin-public.slack.com/). Check out their latest video (https://www.youtube.com/watch?v=K-tHZkV6zAs) and whitepapers (http://www.xinfin.org/white-paper/) here.
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Images courtesy of XinFin