Fireblocks Brings 1,000+ Institutions Access to World’s First Trade-Finance Backed Stablecoin – BlockTribune

Fireblocks Brings 1,000+ Institutions Access to World’s First Trade-Finance Backed Stablecoin

Announcements, Blockchain, Innovation, News | March 16, 2022 br>
By: David Pimentel

Fireblocks, an infrastructure provider for digital assets, has integrated XDC Network into its institutional custody, settlement and issuance platform.

This timely integration will mean that Fireblocks’ 1000+ institutional clients that leverage the all-in-one platform to send, receive, custody, or stake digital assets will now have access to XDC token.

In 2021, XDC Network became the only blockchain project to date to join the global Trade Finance Distribution Initiative (TFDi) – a consortium of the world’s leading banks, credit insurers, trade originators and institutional funders – to increase transparency and fuel automation techniques in the trade asset industry.

The collaboration between XDC and Fireblocks expands the scope of trade finance operations on both platforms, while building on the goals set forth by the TFDi.

“XDC integration is the next leg in our mission to enable every business to easily and securely support digital assets and cryptocurrencies,” said Michael Shaulov, CEO at Fireblocks.

“Integration into the Fireblocks ecosystem is likely to fuel the next wave of access and awareness for the XDC Network,” said Atul Khekade, co-founder of XDC Network. “Trade finance is an increasingly attractive asset class for institutional investors, and we anticipate more growth to come as institutions seek to benefit from the EVM-compatible XDC Network, which has both a hyper scalable infrastructure and near zero gas fees.”