XDC Accelerates Network Expansion With LDA’s $50 M Investment
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.
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“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:
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“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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