XDC Trade Network

XDC Trade Network operates as a specialized initiative within the broader XDC ecosystem, offering a suite of decentralized applications (dApps) built on the XDC Network. The company was registered in Singapore on October 12, 2022, and is spearheaded by CEO and co-founder Sunil Senapati. Senapati contributes over 25 years of experience in technology and trade, having held positions at major firms like Oracle, Maersk, Bolero, and Monetago before joining the XDC ecosystem in 2022. The XDC Network itself was established in 2017 by co-founders Atul Khekade and Ritesh Kakkad, with its mainnet going live in 2019 to provide an enterprise-grade blockchain solution for international trade and finance.

The business is focused on digitizing and streamlining the entire global trade finance process, aiming to address inefficiencies and a trade finance gap estimated at over $2 trillion. It primarily serves small and medium-sized enterprises (SMEs), which often face challenges in securing traditional trade financing due to issues with document verification and a lack of access to capital. The platform makes money by facilitating trade finance, connecting these SMEs with alternative liquidity providers. A key milestone was the completion of a pre-shipment financing transaction against an electronic promissory note (ePN) in July 2024, demonstrating the platform's ability to reduce execution costs and disperse funds within 24 hours.

The core of XDC Trade Network's service is the tokenization of real-world trade assets, transforming critical documents like Bills of Lading and promissory notes into secure, verifiable digital assets on the blockchain. This is achieved through several integrated components. The platform offers seamless integration with TradeTrust, a digital utility backed by Singapore's Infocomm Media Development Authority (IMDA), which ensures that digital documents are created in compliance with the UNCITRAL Model Law on Electronic Transferable Records (MLETR). This compliance provides legal validity to electronic documents across multiple jurisdictions. Another feature is the TradeFineX Portal, where SMEs can post their financing needs and securely submit trade documents for verification by lenders. The entire system is built to be interoperable, capable of accepting and processing digital documents from other compliant systems, thereby creating a more cohesive and efficient trade ecosystem.

Keywords: trade finance, blockchain, dApps, XDC Network, MLETR, asset tokenization, supply chain finance, electronic bill of lading, ePN, SME financing, digital trade, TradeTrust, real-world assets, RWA, Sunil Senapati, Atul Khekade, fintech, decentralized finance, cross-border trade, promissory note