XDC Accelerates Network Expansion With LDA’s $50 M Investment
October 03 2022 - 4:22AM
NEWSBTC
XinFin (XDC) Network, known for secure, scalable, and highly
efficient blockchain use cases have received an investment worth
$50 million from the global alternative investment group, LDA
Capital Limited. The investment originated by leveraging a portion
of the token from the XDC founder’s allocation. Ritesh Kakkad and
Atul Khekade, the co-founders of XDC Network, are certain that the
collaboration will accelerate network adaption and real-world use
cases. The LDA is seen as a strategic partner rather than just a
financier. The XDC founders have competence in the LDA due to their
proactive and strategic involvement in the network to improve the
ecosystem. Atul stated: “We’ve always looked for genuine strategic
partners, not just funders, who can actively and strategically
advance the ecosystem, while bringing utility to the network, and
making XDC the preferred Layer 1 for institutions the world over–in
LDA, we’ve found such a partner.” The onboarding of LDA Capital
benefits the XDC’s new ventures and entities focused on bringing in
new retail and institutional members. The XDC’s smart
contract-based initiatives have expanded dramatically since its
introduction in 2019. It is anticipated that this new relationship
would encourage the growth and development of Layer 2 projects
inside the XDC Ecosystem. Anthony Romano, LDA Capital Ltd. stated:
“LDA Capital is pleased with the developments made in the XDC
Network by the XDC ecosystem. In addition to its funding, LDA will
offer strategic counsel and support to help XDC Blockchain Network
assume its position as a market leader.” Apart from the
macro-economic benefits, projects like DEXs, Metaverses, NFT
marketplaces, oracles, decentralized email providers & cloud
storage, payment dApps, and legal document repositories are all
roots of XDC utilities. The add-on of LDA support will further
intensify the expansion rate in the XDC ecosystem as a whole.
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