XDC Network partners with T-Hub to boost blockchain adoption in India’s Financial sector

India, October 17, 2024: XDC Network, a leading enterprise-grade, EVM-compatible blockchain platform on Livenet since 2019, has announced a strategic partnership with T-Hub – India’s largest incubation center, to support and nurture Indian Web3 startups. This collaboration will harness the strengths of both XDC Network and T-Hub to help businesses implement scalable, efficient, and regulatory-compliant blockchain solutions, accelerating the digital transformation of India’s financial ecosystem.

Through this partnership, XDC Network will provide its robust Layer 1 blockchain technology to over 25+ enterprises and enable them to seamlessly integrate financial services into their blockchain applications. In addition to this, Indian startups operating across Web3 infrastructure, AI, DeFi payments, Web3 gaming, DePin (Decentralized Physical Infrastructure Networks) and more, will also gain access to tokens on the XDC Network, enabling them to leverage blockchain technology for secure, low-cost transactions

Speaking on the announcement, Sonny Mohanty, Head of venture and ecosystem building, XDC Network said – “We are excited to partner with T-Hub to drive the growth of India’s digital economy and set a precedent for similar initiatives globally. This collaboration highlights the immense potential of bringing together technology leaders and blockchain networks to foster innovative solutions for the Web3 ecosystem in India. By integrating advanced blockchain technology with a forward-thinking financial infrastructure, we are set to revolutionize the delivery and experience of financial services in India.”

Aligned with Nandan Nilekani’s vision of ‘Finternet,’ which aims to create a unified platform where individuals and businesses can access and control a wide range of assets, the collaboration will help in the seamless integration of financial services into the internet’s fabric, fostering greater economic inclusion and accessibility. Since inception, XDC Network has been committed to expanding its accessibility to investors and users. 

“Blockchain technology has the power to transform industries on multiple fronts, and through our partnership with XDC Network, we aim to equip Indian startups with the necessary tools and support to foster innovation, scale their operations, and create meaningful change; this is an exciting step forward in our efforts to create a thriving ecosystem for Web3 innovation in India”, said Mahankali Srinivas Rao, CEO, T-Hub.

As the landscape of financial technology continues to evolve, the synergy between visionary concepts like Finternet and robust technological platforms such as the XDC Network is expected to play a crucial role in shaping the future of digital finance, both in India and around the world.

XDC Network has secured listings on prominent Indian cryptocurrency exchanges such as CoinDCX, Giottus, Koinpark, and Unocoin, all of which comply with India’s Virtual Asset Service Provider (VASP) framework. It is also integrated on KoinX, an online platform for crypto exchanges and tax filing solutions.

***

About XDC Network:

The XDC Network is a highly optimized, enterprise-grade, EVM-compatible Layer 1 network on Livenet Since 2019 featuring interoperable smart contracts. It employs a delegated proof-of-stake (XDPoS) consensus mechanism, ensuring rapid transaction times, minimal gas fees, and high transaction throughput. For further details, visit https://xinfin.org.