XDC Network(XDC)

XDC Network is an enterprise-grade Layer 1 blockchain built by XinFin, a Singapore-based company founded in 2017 by Atul Khekade and Ritesh Kakkad. The project was designed from the start for trade finance and supply chain applications. While most crypto projects bolt on enterprise features later, XDC was purpose-built for the $5+ trillion trade finance market.

XDC runs on XinFin Delegated Proof of Stake (XDPoS), where 108 masternodes validate transactions. Each masternode must stake 10 million XDC. The network handles 2,000+ TPS with sub-2-second finality after the XDC 2.0 upgrade launched in October 2024. Transaction fees sit below $0.0001. The XDC 2.0 upgrade introduced forensic monitoring and BFT consensus that guarantees zero forking as long as adversarial nodes stay below one-third of the network. The architecture is hybrid: it combines public chain transparency with private subnet capabilities for enterprise users who need confidential data handling. Full EVM compatibility means Ethereum tooling works without modification.

XDC's ISO 20022 alignment is deep and native. The network's smart contract layer can embed ISO 20022-structured financial messages directly into transactions. XDC is not an RMG member like Ripple or Stellar, so it lacks that formal governance role. But the network was architected specifically for trade finance workflows that require ISO 20022 messaging: letters of credit, bills of lading, invoices. The connection is functional rather than political. For the actual mechanics of trade finance document processing, XDC's implementation may be the most practical of the group.

Partnership activity centers on trade finance institutions. XDC integrated with Singapore's IMDA TradeTrust framework, which digitizes trade documents and reportedly cut operational costs for SMEs by up to 40%. R3 Corda integration gave XDC access to the enterprise blockchain ecosystem. SBI Japan and Deutsche Telekom are both validator partners. The TFD Initiative (Trade Finance Distribution) uses XDC infrastructure. Bitso Business built a U.S.-Mexico remittance corridor on the network. By 2025, the network had processed over 800 million transactions across more than 2 million active wallets. A $1 billion tokenization of Brazilian assets in 2024 demonstrated real-world scale.

In 2025, Circle announced USDC and CCTP V2 support on XDC, enabling fast stablecoin transfers. 21Shares launched an XDC ETP on the Swiss exchange for European institutional investors. XDC joined the MiCA Crypto Alliance for EU regulatory alignment. LayerZero and Stargate Finance integration brought cross-chain interoperability with Ethereum, Solana, and others.

Watch for two things: whether XDC can capture meaningful share of the $5 trillion trade finance market as paper-based processes go digital, and whether the USDC integration plus cross-chain bridges drive new capital onto the network. The trade finance use case is XDC's moat, and if major banks adopt it for letter-of-credit processing, the token could see meaningful demand.