Shortly following a flurry of new partnerships, protocol integrations, and exchange listings, the price of XDC rocketed to a new all-time high.
Because the integration of digital currencies with normal business activities will bring new users into the ecosystem and stimulate on-chain activity, enterprise adoption of blockchain technology is an essential long-term goal of the cryptocurrency community.
XinFin Network (XDC), an enterprise-ready hybrid blockchain system specifically built to optimize international trade and finance, has been gaining ground on the industry adoption front.
According to data from Cointelegraph Markets Pro and TradingView, the price of XDC soared 190 percent from a low of $0.0673 on July 20 to a new all-time high of $0.1952 on August 21.
Three reasons for the growing momentum behind XinFin are the addition of the XDC Network to the global TFD Initiative, the release of the decentralized email solution LedgerMail and a growing ecosystem of partners and listing exchanges.
Adoption by a global trade network
One of the most significant developments for the XDC network was its addition to 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 asset trading and risk distribution.
The addition of the XDC Network “enables the organization to bridge the $19 trillion trade finance asset class with any form of funder through tokenization and digital assets,” according to André Casterman, Chair of the Fintech Committee at the International Trade and Forfaiting Association (ITFA).
This integration is significant for XinFin because it connects them with some of the world’s largest financial institutions and service providers, including AIG, Santander Asset Management, ING Bank, the International Chamber of Commerce, Standard Bank, Commonwealth Bank of Australia, Texel Group, and Lloyds Bank.
The TFD Initiative’s main purpose is to build a more robust trade finance ecosystem by defining new technology-based market practices and transaction data specifications to improve trade flow accessibility and openness.
XinFin XDC Network – a network utility providing smart contract technology to produce cryptographic tokens – the First Blockchain Company to Join the Global TFD Initiative.https://t.co/NaOaRGuhOZ pic.twitter.com/kTKEMmQfZp— ITFA (@ITFAworldwide) August 23, 2021
LedgerMail becomes the world’s first decentralized email solution
Another reason for XDC’s surge came after the Aug. 4 release of LedgerMail, “the world’s first decentralized email solution,” which is powered by the XDC network.
Industrial Revolution 4.0 has officially started!— LedgerMail (@LedgerMail) August 4, 2021
LedgerMail is Now LIVE!https://t.co/iF1bMvAVgL@LedgerMail supported by @XinFin_Official has started the Decentralized Email Revolution by reinventing the email with Decentralized Email!
Sign Up to get FREE Access & 10 $XDC! pic.twitter.com/Vb43p6sADO
According to the project’s Twitter feed, its mission is to provide the “highest level of security, privacy, encryption and prevention from email attacks in a decentralized way.”
Demand for the service got off to a hot start with the total number of signups surpassing 50,000 within the first week an new users also received 10 free XDC for signing up.
Partnerships and exchange listings
In recent weeks, XDC adoption has surged as a result of new collaborations for the network as well as multiple new exchange listings.
One of the more significant collaborations was with Shopping.io, an e-commerce platform that allows users to pay for things on Amazon, eBay, Walmart, and Etsy using cryptocurrency. Purchases made using XDC receive a 2% discount, and users who additionally have Shopping.io’s native SPI token can receive an additional 12% discount.
XDC has also teamed up with HAPI, an on-chain cybersecurity protocol for decentralized finance (DeFi) solutions that helps to improve security and avoid hacking attempts.
🎊We are excited to announce that HAPI Protocol will be integrated on @XinFin_Official— HAPI | Onchain Cybersecurity Protocol for DeFi (@i_am_hapi_one) August 17, 2021
👉 XinFin’s XDC Network is a leading hybrid blockchain protocol designed to support institutional use in asset tokenization and decentralized finance.
🔖Details here: https://t.co/trZNwiq9tw
HAPI is a set of cross-chain smart contracts that are embedded into DeFi products and it allows them to reach a new security level.
Several recent exchange listings have also benefited XDC as increased access has led to increases in its 24-hour trading volume. These include its July 8 addition to SimpleSwap and a July 31 integration with Simplex.