Propine Supports FXD Stablecoin to Bridge Trade Finance Gap
Propine and FXD: A New Era in Trade Finance
Propine, a MAS-regulated custodian based in Singapore, has announced its support for FXD, a stablecoin pegged to the US dollar. This development is set to address the significant $5 trillion trade finance gap by leveraging blockchain technology. FXD is positioned as a leading solution in real-world assets (RWA), specifically designed to enhance global trade finance operations.
The Role of FXD in the Trade Finance Market
FXD is over-collateralized by the XDC network token and trade finance assets. It aims to provide a stable transaction medium in the $30 trillion trade finance market, offering solutions such as cross-border transactions and borrowing against receivables. This stablecoin is particularly beneficial for small and medium-sized enterprises (SMEs) that face barriers in global trade.
Propine's Commitment to Digital Asset Security
Propine, known for its robust governance and internal controls, consistently leads innovation in digital asset custody. The company is committed to facilitating secure adoption of digital assets for institutional investors and businesses. Their support for FXD is seen as a pivotal moment, enhancing the liquidity and accessibility of the stablecoin.
Enhancing Security and Compliance
The integration of Propine's custody solutions with FXD ensures high security and compliance standards, crucial in the regulated financial sector. As FXD gains momentum, Propine's role will be essential in its custody and management, marking a new chapter in the integration of real-world assets with digital finance solutions.
About Propine and Fathom Protocol
Propine is a licensed digital asset custodian providing secure solutions to institutional clients. They enable tokenization of previously illiquid assets, supporting clients within a compliant framework. Fathom Protocol, where users can deposit XDC tokens or RWA collateral to borrow FXD, offers financing solutions and competitive yields for investors.
XDC Network: The Backbone of FXD
The XDC Network is a carbon-neutral, enterprise-grade blockchain that facilitates fast transactions and low costs. It powers a range of blockchain use cases, including trade finance and RWA tokenization, ensuring secure and efficient operations globally.
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