XDC Network(XDC)

XDC Network is an enterprise-oriented, EVM-compatible Layer 1 blockchain built by XinFin, a Singapore company (XinFin Fintech Pte. Ltd., incorporated in June 2017) whose co-founders are Atul Khekade and Ritesh Kakkad, according to the network's own MiCA white paper. The project was designed from the start around trade finance and supply chain applications rather than adding enterprise features later. The white paper dates the XDC Network mainnet launch to June 1, 2019, and the XDC Foundation was established in 2021.

XDC runs on XinFin Delegated Proof of Stake (XDPoS) with 108 active masternodes, each staked with 10 million XDC; the white paper says all 108 slots have been claimed and about 130 standby nodes exist. The XDC 2.0 upgrade in 2024 moved consensus to Chained HotStuff and, per the white paper, replaced probabilistic finality with deterministic finality of about six seconds (three blocks), with roughly two-second block times. The same document is inconsistent on the confirmation threshold: its consensus section says each block is finalised with signatures from at least two-thirds of the 108 active validators, while its risk section says finality is achieved when at least 75% of masternodes sign a block. The white paper also reports over 2,500 TPS under optimal conditions and 2,000 TPS under stable conditions; those are self-reported figures from the project's own filing, not an independent measurement. Fees are described there as fractions of a cent, and the same document notes that XDC 2.0 raised transaction fees 50-fold, so older "ultra-low fee" figures should not be assumed to still apply. The design is hybrid in the sense that the protocol is structured to accommodate both public and permissioned environments, and it is EVM-compatible.

XDC's ISO 20022 story is an application-layer one, and it is easy to overstate. XDC is not on ISO's Registration Management Group member list (in a copy archived in March 2026), so it holds no formal role in how the standard is written. What XDC has is Impel, a XinFin product described on its own site as an ISO 20022 API that lets banks and corporates send ISO 20022 financial messages with optional instant settlement using digital assets, plus a bridge from the XDC Network to R3 Corda. "Compliant" there is the vendor's own description: ISO does not certify blockchain networks or tokens, and we could not verify any independent assessment.

Partnership activity centers on trade finance and tokenization. According to the white paper, XDC was bridged to R3 Corda and joined the International Trade and Forfaiting Association in 2020, became the first Layer 1 blockchain selected for the Trade Finance Distribution Initiative in 2021, and was integrated with Singapore's IMDA TradeTrust platform for electronic trade documents in 2022. In 2023 the token was listed on SBI VC Trade in Japan and an SBI XDC Network APAC joint venture was established. The XDC Foundation reported in June 2025 that Deutsche Telekom MMS launched a masternode, that Bitso integrated XDC for US-to-Mexico cross-border payments, and that Mercado Bitcoin issued an initial $12 million of fixed-income tokens on the network, all self-reported by the foundation.

In 2025, Circle announced on September 17 that native USDC and CCTP V2 were available on XDC Network. 21Shares launched an XDC Network ETP on Euronext on July 9, 2025. XDC joined the MiCA Crypto Alliance on May 8, 2025; that alliance is a private industry group, not a regulator, so membership is not regulatory approval. The MiCA-format white paper cited on this page was prepared by that alliance, and the document itself states it has not been approved by any competent authority in any EU Member State. The XDC Foundation also reports that XDC is live on LayerZero and Stargate for cross-chain transfers.

Watch for two things: whether XDC can turn its trade finance positioning into measurable institutional volume, and whether native USDC and cross-chain bridges bring durable activity to the network. The trade finance use case is XDC's differentiator, but bank adoption for letter-of-credit processing is something we could not confirm as delivered, so treat it as a claim to watch, not a fact.