XDC Network Strengthens Trade Finance by Acquiring Contour

XDC Network Acquires Contour

XDC Ventures has acquired Contour Network to restructure the trade finance platform with blockchain technology and stablecoin integration. This move stands out as a significant step in financing global trade.

Restructuring Contour

Contour specializes in digital letters of credit and was initially supported by major banks such as HSBC, Citi, and Standard Chartered. However, it faced scaling issues and will be restructured under XDC ownership with new capital and strategy.

Reducing Costs in Trade Finance

The tokenization and integration of stablecoins can help reduce costs in international trade finance. These developments are seen as heralding significant changes in the financial world.