Enterprise-grade blockchain startup XDC Network on Monday announced that it has received a $50-million capital commitment from global alternative investment group LDA Capital Limited to drive its expansion plans.
LDA support will help fund new ventures and entities laser-focused on increasing network adoption among retail and institutional participants, jumpstarting on-chain activity and total value locked (TVL), and supporting technological innovation, XDC said in a statement.
Launched in 2019, XDC Network is an enterprise-grade, carbon-neutral, hybrid blockchain startup that aims to meet the growing needs of global financial institutions, retail users and entrepreneurs for fast and secure, decentralised network products.
It offers services such as DEXs, Metaverses, NFT marketplaces, oracles, decentralised email providers and cloud storage, payment dApps, legal document repositories, and tokenised real-world assets.
“Our collaboration with LDA will usher in an exciting new period in the XDC Network’s history by enabling unprecedented growth of the Layer 2 ecosystem across various use-cases, with an emphasis on bringing ever more value TVL (total value locked) to the network via hyper-scalable dApps, DEXs,TradeFi/DeFi and advanced products filling the gaps between traditional and decentralized finance,” said Ritesh Kakkad, co-founder of XinFin (XDC) Network.
LDA Capital is a global alternative investment group with an expertise in cross-border transactions worldwide. The group has collectively executed over 250 transactions in growth-stage businesses across 43 countries with aggregate transaction values of over $11 billion.