XDC Network Announces Partnership with Plug and Play's Innovation Platform

SINGAPORE, Nov. 12, 2024 /PRNewswire/ -- XDC Network, an enterprise-grade Layer 1 blockchain designed for secure, scalable, and efficient operations that supports trade finance, real-world asset (RWA) tokenization, and decentralized applications for both enterprises and retail users, has announced its partnership with Plug and Play's global open innovation platform to launch the XDC Payments Program. The program will identify and collaborate with the best payments-based web 3.0 solutions that can enrich the XDC Network.

"The XDC Network aims to empower the next-generation payment companies, banks, and FIs with Web3-ready, API-driven infra designed for seamless cross-border payments, ISO 20022-compliant messaging, and secure digital document transfers. We are thrilled to launch a payments-focused program with Plug and Play, whose expertise will be instrumental in cultivating innovative new ventures on the XDC Network," said Atul Khekade, Co-Founder of XDC Network.

With this partnership, startups in the payments industry will have the chance to leverage XDC Network's resources and support. "This is an incredible opportunity for startups looking to shape the future of payments on a secure, scalable blockchain by gaining access to cutting-edge infrastructure, mentorship, and a collaborative environment that accelerates their growth within the XDC ecosystem," said Sonny Mohanty, Head of Ventures and Ecosystem Development at XDC Network. "We invite innovative payment solutions to reach out and become a part of this journey, co-creating the future of cross-border transactions and DeFi with us."

Plug and Play's leading fintech vertical maintains a strong presence globally and throughout the APAC region, with more than 70 corporate partners and 2,000 accelerated startups. "XDC has been an invaluable global partner for us in the RWA (Real World Assets tokenization) Accelerator, and this new collaboration focused on payment solutions deepens our shared commitment. Together, we'll provide dedicated support for projects advancing cross-border payments, infrastructure and developer tools, payments accessibility, DeFi, and liquidity solutions," said Manav Narang, Director and Head of Financial Services at Plug and Play APAC.

Committed to driving innovation in the fintech and payments industry, Plug and Play and XDC Network will work with startups to co-build payments-based web 3.0 solutions on the XDC Network. Startups seeking potential collaboration opportunities are invited to indicate their interest for the XDC Payments Program here: https://plugandplay-apac.typeform.com/to/a0XS7lTM

About XDC Network

Since its mainnet launch in 2019, the XDC Network is a Layer 1 blockchain offering EVM compatibility and employs a Delegated Proof of Stake (DPoS) consensus mechanism combined with advanced Byzantine-Fault-Tolerant (BFT) technology, enabling near-instant transactions, minimal gas fees, and a throughput of over 2,000 transactions per second (TPS). It also features a Layer-2 subnet system allowing enterprises, governments, and individuals to launch sovereign and privacy-preserving subnets that inherit the security of the XDC mainnet.

XDC Network, following the XDC 2.0 upgrade, is now positioned as the foundational infrastructure enabling seamless payments across industries. With a focus on scalability, security, and interoperability, the XDC Network is designed to support the growing demands of digital payments across a wide range of use cases, making it the bedrock for the next generation of financial systems.

Find more information about XDC Network, visit XinFin.org

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 60 locations globally, giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 80,000 startups and 620 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs and host more than 700 networking events per year. Companies in our community have raised over $12 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, and PayPal.

Our Asia Pacific headquarters was launched in Singapore in 2010 and we have since expanded into Malaysia, Indonesia, the Philippines, and Thailand. Since then we have invested in more than 100 startups and have collaborated with various governments as well as multinational and regional corporations to multiply their innovation efforts through initiatives such as industry-specific accelerator programs.

For more information: visit www.plugandplayapac.com