Blockchain startup XDC Network secures $50M from LDA Capital

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Blockchain startup XDC Network secures $50M from LDA Capital
Blockchain startup XDC Network secures $50M from LDA Capital

XDC Network will use the funds to accelerate the expansion and development of Layer 2 projects across the ecosystem and to facilitate network adoption and real-world utility

Enterprise-grade blockchain startup XDC Network on Monday announced that it has secured $50 million from LDA Capital.

The founders of the XDC Network have leveraged a portion of their personal token allocations to secure the $50 million to accelerate the expansion and development of Layer 2 projects across the ecosystem and to facilitate network adoption and real-world utility.

The enterprise grade startup was launched in 2019 by Atul Khekade and Ritesh Kakdad.

It offers services like DEXs, Metaverses, NFT marketplaces, oracles, decentralised email providers and cloud storage, payment dApps, legal document repositories, and tokenised real-world assets. This also offers decentralised network products to global financial institutions, retail users, and entrepreneurs.

XDC Network intends to accelerate growth with LDA’s support.

Atul Khekade, Co-founder, XDC Network, said: “Though there have been many institutional funds eager to participate in the XDC Network over the years, we’ve always looked for genuine strategic partners, not just funders. We looked for those who can actively and strategically advance the ecosystem, while bringing utility to the network, and make XDC the preferred Layer 1 for institutions the world over–in LDA, we’ve found such a partner,” as per reported by YourStory.

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