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 conducted its initial coin offering (ICO) recently. The company raised USD 15 million equivalent digital assets.
XinFin’s protocol XDC01 powers Tradefinex.org platform that caters to small farmers, individuals or small businesses worldwide that remain unbanked due to lack of financial setup and remote locations. XinFin’s financial mechanism called TradeFinex enables buyers secure capital at globally competitive rates, gives suppliers visibility on global tenders and customer base and provides financiers visibility on their investments.
The XinFin ecosystem will support price stability of FIAT currencies, upcoming national crypto currencies 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.
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