The Open Source XDC blockchain platform network plans to launch its own ETF. XDC supports intelligent contracts based on Ethereum (EVM) and operates with systems like SWIFT, which facilitates the management of active transactions from the real world.
Recently, the co-founder of XDC, Ritesh Kakkad, shared that the network uses the blockchain to modify the operation of the financing. They asked for an FNB in the United States, the objective is to facilitate investment for everyday people while attracting large institutions and pushing the adoption of the platform.
The XDC network applies to ETF in the United States
The XDC network has recently developed with its advanced technology and diversified partnerships. Kakkad said in an interview with Fintech TV: “Now the best part is that we ask for an ETF for XDC.” He added that the company will probably launch its ETF in a few weeks.
This launch will certainly increase the accessibility, legitimacy and institutional adoption of its native crypto, XDC. It will also make the process possible for investors to buy and sell the crypto via various brokerage platforms.
Why does XDC apply to an ETF?
As crypto demand increases, more companies apply for FNB or integrate digital assets in their traditional funding. The co-founder of XDC explained that companies make a fortune with cryptocurrencies. Those who started with small investments have become billionaires.
Kakkad said: “If you look at ETP and ETF, he started a few months ago. And after the government’s approval of various FNB Bitcoin, you will see more than 40 to 50 billion traditional funds in these digital assets.”
“And now I see that this is only the beginning because they are sitting thousands of dollars of fiduciary money and they are looking for a new asset,” he added.
