XinFin is a global open source hybrid blockchain ecosystem that is solving international trade problems, bottlenecks in remittance, and project financing issues. The Singapore based startup has officially become a participating member of the Abu Dhabi Global Market (ADGM) Sandbox. The collaboration will allow XinFin to live-test TradeFinex, the global trade finance ecosystem built with the XDC Protocol, under regulatory supervision. As part of the deal, XinFin would also be allowed to create fintech initiatives for small and medium-sized businesses (SMEs).
The move pushes XinFin’s innovative prowess afar and will help the company to fully test, monitor, and understand the blockchain requirements of ADGM’s clients. Through smart contracts, TradeFinex would, therefore, be integrated with the small and medium-sized businesses. The project is also to help open these businesses to new financing opportunities, insurance initiatives, and payments solutions.
TradeFinex is a decentralized platform built on XinFin’s XDC Protocol to enable global trade and finance, create innovative approaches to financing development projects around the world, and provide an ecosystem for transparent and secure commerce for all.
The Abu Dhabi Global Market (ADGM) was established in October 2015 by the Federal Decree of the United Arab Emirates. This collaboration establishes the ADGM to help the city uplift itself as a center for global business and finance. Apart from serving as a linkage between Africa, Middle East, and South Asia, the ADGM will also help position the city as a banking, asset management, financial innovation, and wealth management center of excellence – and allows companies to operate in an internationally challenging and regulated environment.
XinFin is made up of a group of open source developers and community contributors. As a distributed ledger technology firm, XinFin has built a hybrid blockchain system that welcomes both fiat and cryptocurrencies and boasts of an XDC Protocol that allows businesses to build, deploy, and integrate old business processes with new ones. XinFin has built global solutions in Fintech, remittance, trade finance, and hybrid systems.
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Join TradeFinex: https://www.tradefinex.org/
Join XinFin: https://www.xinfin.org/