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The XDC Network and SBI VC Trade In Collaboration

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XDC Network previously referred to as XinFin, a hybrid Blockchain solution company expands its business activities in Japan through a partnership deal with a SBI VC Trade.

However, SBI VC Trade is a crypto exchange subsidiary company of SBI, a financial holding company in Tokyo, Japan.

Fumiki Ozaki, the CEO of XDC Network affirmed the announcement XDC Network made on May 31, 2023, about its token (XDC) being listed in SBI VC Trade.

READ ALSO: Chinese Police Apprehend Group Behind Yuan-Backed CNHC Stablecoin

What Could Interest Investors in XDC Network?

XDC token made headlines in March 2023, as it rose to 54% in 30 days being among the top 5 rising altcoins.

Moreover, the XDC Network being a hybrid blockchain solution, supports atomic cross-chain token transfers

They also support protocols including Ethereum Virtual Machine-compatible smart contracts.

Furthermore, the network complies with financial institution message standards which are ISO-20022.

Also, this standard is an internationally recognized standard used to share electronic data interchangeably between financial institutions.

Interestingly, the XDC Network formed a decentralized autonomous body after decentralizing the governance of its blockchain.

The network stated that after its integration in May 2023, its community will deliberate on the share of ecosystem funds to encourage development.

However, SBI is pushing its interest into significant and major crypto markets.

It received an operating license to start its activities in Singapore as of September 2022.

Also, Clear Markets, one of its investors, got clearance from the United States Commodity Futures Trading Commission.

This approval will enable Clear Markets to set up a physical structure from which it will deliver services on crypto derivatives products over the counter.

Japan to Experience Growth in Crypto Industry

Recently, Japan has taken steps to reform and modify its tax policy on cryptocurrency corporations and to provide a habitable environment for them to thrive.

However, Japan Prime Minister Fumio Kishida approves Web3 White Paper which pointed out tax reformation strategies.

Web3 also offered some recommendations with the potential of boosting the blockchain industry in the country.

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