The founders of XDC Network announced the securing of a $50 million investment from the global alternative investment group LDA Capital Limited. The commitment will help the project to accelerate the development of L2 projects across the XDC ecosystem.
The support of the investment group will fund new ventures and entities focused on increasing network adoption among retail and institutional participants, fueling the growth of activity and the Total Value Locked.
From #CBDCs to #DeFi - #CordaCon2022 is buzzing w/ over 1000 financial services leaders & #blockchain enthusiasts.
— XDC Foundation (@XDCFoundation) September 27, 2022
Here is #XDCNetwork participant & CEO of @Impel_official, @troyswood, with COO @rickcrook of @BCBcrypto & Todd McDonald, Co-founder of @inside_r3!#XDC #ISO20022 https://t.co/wH0AEsyAL5
XDC was launched in 2019, becoming an enterprise-grade hybrid blockchain built to cover the needs of global financial institutions. The number of blockchain projects built on XDC is growing rapidly despite the problematic conditions on the cryptocurrency market.
Among the projects launched on XDC are metaverses, NFT marketplaces, oracles, decentralized email providers, dApp payments and more. With the help of LDA, XDC aims at attracting more developers to their network and increasing the number of projects built on it.
According to the co-founder of XinFin Atul Khekade, there were numerous institutional funds ready to participate in XDC Network over the years, but their main priority was long-term strategic partnership, which is exactly what LDA offers.
LDA Capital is pleased with the development made in XDC Network and the rapid growth of their ecosystem. Funding will not be the only thing offered to XDC as LDA will provide strategic counsel and support to help XDC Blockchain Network gain a foothold at the top of the digital asset market.
LDA Capital is an alternative investment group that works globally. The company was able to aggregate transaction values of over $11 billion through the years of executing over 250 transactions in growth stage businesses across 43 countries.
XDC Network was founded in 2019 and operated successfully since then. The network is an open-source, carbon-neutral, enterprise-grade and EVM-compatible Layer 1 blockchain.
The network obtains consensus with the help of an especially delegated XDPoS algorithm that makes 2-second transaction times and near-zero gas expenses possible. The network is also interoperable with ISO 20022 financial messaging standards. Thanks to its technical efficiency, XDC is able to power a wide range of secure and scalable novel blockchain use cases.
Alex Dovbnya
