Tradeteq to launch TRADA Tokens on XDC Network 26 July 2022UK Reporter: Carmella Haswell
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Tradeteq, a data, technology and software provider, has selected the XDC Network to launch fully regulated, trade-finance-backed fungible security tokens, TRADA Tokens.
The firm aims to deliver significant liquidity to the trade finance sector by securitising a traditionally illiquid asset class on the XDC Network — a public decentralised blockchain.
By using fungible security tokens with concrete collateral, Tradeteq says it will begin the process of “ramping up on-chain transaction volume of regulated, real-world assets” and extends access to the trade finance market to retail and institutional investors.
According to Tradeteq, the TRADA launch signals blockchain’s adoption in a regulated arena. It positions the XDC Network as a way to connect real-world finance origination with decentralised finance (defi) markets, confirming a number of reports that foresee a wave of tokenised assets on the blockchain.
Speaking on the announcement, Nils Behling, chief financial officer and co-founder at Tradeteq, says: “This launch is an important move in the democratisation of trade finance through XDC’s enterprise-grade blockchain technology.
“By investing in trade finance, which historically has been restricted to banks and larger institutional investors, private investors can now invest in the real economy. The XDC Network is our chosen blockchain to develop this system and XDC is the only crypto asset that can be used to purchase TRADA.”
Atul Khekade, co-founder of the XDC Network, adds: “XDC Network is completely decentralised and has been optimised for enterprise applications over a period of years. As the preferred network for its token issuance, Tradeteq offers further validation of the XDC Network’s real-world utility.”
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