In a groundbreaking development on April 19, 2024, XVC Tech, a premier venture capital firm known for its innovative investments in the burgeoning tech landscape, announced its latest strategic move in the digital asset management sphere. This time, their focus has turned towards TradeTogether, a frontrunner in the Web3 wealth management sector based in the vibrant financial hub of Singapore. The investment by XVC Tech, which stems from the brains behind the creation of the XDC Network blockchain, marks a significant step in fostering growth and collaboration within the digital asset management and blockchain industry.
The collaboration is set to turbocharge the ecosystem of XDC Network, which is already renowned for its Real-World Assets (RWA) decentralized applications (dApps). These dApps span a diverse range of sectors including Private Credit through TradeFinex, Trade Finance via the XDC Trade Network, the tokenization of gold with Comtech Gold, and the utilization of tokenized US Treasuries offered by Yieldteq, powered by Tradeteq. This ecosystem underpins the vast potential and versatility of blockchain technology beyond conventional cryptocurrency applications.
Ritesh Kakkad, the co-founder of XVC Tech, expressed enthusiasm about the partnership, highlighting TradeTogether’s commitment to compliance as a critical factor in their collaboration. Compliance, especially in domains such as private credit and trade finance, is pivotal in attracting institutional adoption. This move is anticipated to enhance the practical application of the XDC Network’s diverse use cases, thereby broadening its reach and impact across various sectors.
On the partnership’s potential, TradeTogether’s CEO, Geoff Ira, shared his anticipation for the synergy between the two entities. Ira praised XDC Network’s capabilities as an Enterprise-grade Layer 1 blockchain with a strong inclination towards Real-World Assets. TradeTogether aims to leverage this robust platform to cultivate elite Web3-centric funds, hence funneling intelligent capital into RWAs and Web3, while strictly adhering to regulatory compliance standards.
TradeTogether is also rolling out two novel investment avenues. Firstly, the TradeTogether Bitcoin Advantage Fund, which presents an innovative approach for clients to invest in Bitcoin with an added layer of protection against market fluctuations, offering a unique edge over traditional Exchange-Traded Funds (ETFs). Additionally, the firm is presenting high-net-worth individuals and financial institutions with transparent solutions in tokenized bonds and Web3 products for receivable financing. This strategy stands as a progressive move away from the more traditional decentralized finance (DeFi) platform model.
Backing TradeTogether are several prominent co-investors including Orbit Startups, Tenity, Boleh Ventures, and Leo Ventures. The firm’s funding round also saw contributions from notable angel investors such as Samuel Rhee, Varun Mittal, Reuben Lai, among others, showcasing the broad support and belief in TradeTogether’s mission.
XVC Tech, forged by XDC Network co-founders Atul Khekade and Ritesh Kakkad, is a $125 million fund dedicated to investing in NextGen Technology Solutions. Its portfolio boasts of innovative companies such as DeGaming, Bolero, and Truflation, focusing on areas like RWA, Web3 infrastructure, AI, and decentralized Personal Identifiable Information (DePIN).
XVC Tech’s investment in TradeTogether represents a strategic alignment with its vision to pioneer next-generation technological solutions. For aspiring Web3 startups out in the fintech wilderness, XVC Tech extends a warm invitation to join its ranks and make substantial impacts in the digital world. Further information on this collaboration and future endeavors can be obtained by visiting the official XVC Tech website.
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