XDC Network is on a bullish run today in what appears to be a unique way for the community to celebrate the protocol's fourth anniversary. The XDC coin soared as high as 25% in early morning trading, with its price now pegged at $0.0377. XDC Network, despite being a highly functional blockchain network, is relatively obscure in terms of its decentralized finance (DeFi) innovations.
With its new age comes a new reality as the protocol recently announced a partnership with SBI VC Trade Co. Ltd., a prominent Japanese cryptocurrency exchange within the SBI Group. The partnership will see XDC Network deploy its robust protocol, which can facilitate efficient and low-cost trade finance transactions that will be largely beneficial for the Japanese market.
📢 Banking Powerhouse SBI Commits to Empowering XDC, Expanding XDC Network's Footprint in Japan🌐💼— XinFin (@XinFin_Official) May 31, 2023
Read here: https://t.co/5yDK3GXZuE
We're thrilled to expand our ecosystem in Japan through this strategic partnership with @sbivc_official . Together, we'll revolutionize trade…
In redefining its focus for the year ahead as will be powered by the SBI partnership, XDC Network aims to be the dominant leader in the provision of blockchain solutions for enterprises and financial institutions.
Because of current sentiment in the XDC Network, the digital currency has also remained bullish for the week, jumping as high as 28% at the time of writing.
XDC Network's steady evolution
Since the launch of its mainnet four years ago, the XDC Network has evolved in a steady way with a focus on protocol enhancement and community engagement.
As reported earlier by U.Today, the protocol launched DAOFIN earlier this year as it seeks to introduce an entirely new decentralized framework for the network. Besides DAOFIN, several unique decentralized applications (dApps) have been launched on XDC Network, including the non-fungible token (NFT) marketplace, XDCNFT.
While it may not be as popular as Ethereum and Solana, XDC Network has maintained relatively high developer activity, with plans to push more into enterprise engagements in the coming years.