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XinFin joins the Global Trade Finance Distribution Initiative

Wednesday 18 August 2021 12:26 CET | News

XDC Network has been selected to join the global Trade Finance Distribution (TFD) Initiative, a consortium of trade originators, credit insurers, and institutional funders.

The initiative is on a mission to boost automation and transparency in trade asset and risk distribution. 

To establish trade as an investment class, TFD Initiative is working to define new technology-based market practices and transaction data specifications, with the goal of increasing the accessibility and transparency of trade flows. This could create a more robust trade finance ecosystem where banks can reach new types of funders, like institutional investors and family offices. 

The TFD Initiative recognises the vital role blockchain will play in shaping the future of the trade finance sector, which has already been successfully implemented in other areas of finance. The public-private hybrid blockchain platform XDC Network brings energy-efficient smart contract and digital asset technology to the trade investment class.

Using cryptographic tokens, the XDC Network allows for the digitisation, tokenisation, and swift settlement of trade transactions, reducing reliance on complex foreign exchange infrastructures. 


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Keywords: partnership, trade finance, supply chain finance, blockchain, digitalisation
Categories: Banking & Fintech
Companies:
Countries: World
This article is part of category

Banking & Fintech