Stablecoin

Fathom Dollar

XDC Network

DeFi

Fathom

The $5 trillion trade finance gap can be filled with the help of FXD Fathom Dollar, a stablecoin pegged to the US dollar, which Custodian Propine has announced its support for. By utilizing blockchain technology to enhance international trade finance operations, this advancement positions FXD as a frontrunner among real-world assets (RWA). Renown digital asset custodian Propine serves large institutional clients and has a license from the Monetary Authority of Singapore (MAS).
With the support of the XDC and RWA network tokens—which include trade finance assets—FXD is a stable-priced cryptocurrency. Amid mounting worries regarding the trade finance gap, it arose as a solution for a specific use case. For SMEs and other small and medium-sized businesses, this is now a huge obstacle to international trade.
The primary goal of FXD is to support essential functions in the $30 trillion trade finance market worldwide by providing a trustworthy platform for transactions and a medium of exchange. This opens up a new investment class for entities outside of banks, allowing for things like cross-border transactions and borrowing against receivables.
“Propine is committed to facilitating the rapid and secure adoption of digital assets and cryptocurrencies by institutional investors and regulated businesses,” stated Tukhina, propine’s founder and chief executive officer. In order to achieve this goal, we have implemented safety and compliance standards that are considered industry standards. We believe there is a great opportunity to remain a reliable partner for companies seeking a smooth and secure entry into this space as the industry grows.
With Propine’s custody solutions integrated with FXD, users can experience the utmost security and compliance necessary in the heavily regulated financial industry, according to Fathom’s Manuel Rensink. The importance of Propine’s role in overseeing and caring for FXD will surely grow as the project gains traction. With its triumph, a new chapter in the fusion of physical assets and online financial services has begun.
Regarding Propine
Propine, with headquarters in Singapore, is a certified, insured, and licensed digital asset custodian. In order to revolutionize the storage and trading of digital assets, the company is committed to offering dependable, secure, and scalable solutions to institutional clients. Additionally, with Propine, investors can tokenize assets like corporate bonds, real estate, private equity, funds, art, natural resources, and derivatives that were previously illiquid. Helping clients reach their full potential within a framework that complies with regulations and is legally sound is the company’s primary objective.
In regards to the Fathom code
With Fathom, a liquidity protocol, users can borrow FXD with collateral of XDC tokens or RWA. People and companies can now take advantage of programmatic financing opportunities that weren’t available before. Furthermore, FXD can be reinvested by savers and investors for competitive returns. The FTHM token holders have the power to decide on new collateral types, interest rates, and other matters pertaining to Fathom DAO. The XDC network forms the backbone of Fathom, which is the hub of the institutional DeFi ecosystem.

Propine Reveals XDC Network Support for Fathom Dollar (FXD) Stablecoin

Blocksays

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