XDC Network Acquires Contour to Expand Stablecoins and Tokenization in Trade Finance
Layer-1 blockchain XDC Network's venture arm said on Wednesday it had acquired Contour Network, a digital platform designed for banks to streamline trade finance with blockchain rails.
Contour was originally backed by major banks like HSBC, Citi and Standard Chartered but struggled to scale and was shuttered in late 2023. Under XDC's ownership, it will be restructured with fresh capital injection, a revamped strategy and a focus on integrating stablecoins into real-world trade processes, XDC said in a press release shared with CoinDesk.
The firm did not disclose the acquisition price.
The acquisition comes as global banks and financial institutions ramp up efforts to explore using blockchain rails for real-world asset (RWA) tokenization and stablecoin settlements. The process could save billions of dollars annually in trade financing alone by automating processes with smart contracts and programmable digital payments on blockchains, a report by Ripple and BCG from earlier this year projected.
XDC Network, an Ethereum-compatible layer 1 with two-second settlement times and ISO 20022 messaging support, is positioning itself as a hub for real-world asset tokenization. Its partners include Circle (CRCL), Deutsche Telekom MMS and Securitize, and the network has integrated frameworks like MLETR and R3 Corda to support cross-border finance.
"Banks need settlement rails, treasury optimization and compliance frameworks," said Ritesh Kakkad, co-founder of XDC Network and XDC Ventures. "We're building all three."
Contour specialized in digitizing Letters of Credit, a type of financial instrument that banks use to guarantee trade deals. In past live trades, Contour's system helped reduce processing times from days to hours, the firm said. Leveraging the platform, XDC aims to offer end-to-end digital trade finance from documentation to real-time settlement. The project will begin testing with regulators in the U.S., EU and Asia as part of its next phase, XDC said.
With the acquisition, XDC Ventures also unveiled a Stablecoin Lab to run pilot programs aimed at banks and corporates. These pilots will test how regulated stablecoins such as Circle’s USDC$0.9998 can be used to settle trade transactions on a blockchain more efficiently than traditional rails.
Read more: Brazil's VERT Capital to Tokenize $1B in Real-World Assets on XDC Network
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
U.S. and China Reach Rare Earth Agreement: One Year of Stability Despite Ongoing Competition
- China suspended new export controls on rare earths and other materials for one year, easing U.S.-China trade tensions via a Trump-Xi agreement. - The deal includes U.S. tariff rollbacks and China halting investigations into semiconductor firms like Nvidia , with provisions expiring in 2026. - Experts warn China's 90% refining dominance and low-cost production ensure its strategic leverage remains unchallenged despite temporary concessions. - U.S. rare earth stocks rose, but analysts stress global supply

Bitcoin Updates: Clash Between State Legislation and Community Interests: Texas Community Fails to Enforce Regulations on Bitcoin Mining Operation
- Mitchell Bend, Texas residents rejected incorporation by 25% to regulate a Bitcoin mine's noise pollution, highlighting tensions between crypto operators and communities. - Marathon Digital Holdings opposed the move, filing a 47-page lawsuit claiming it violated state law and would harm operations, but a federal judge denied its restraining order request. - Proponents vowed to continue legal battles through Earth Justice, citing health complaints like sleep disturbances and nausea linked to the mine's co

Bitcoin Updates: Texas Community's Attempt to Control BTC Mining Falls Short, Underscoring Ongoing Regulatory Hurdles for the Industry
- Hood County voters rejected Mitchell Bend's incorporation bid by 25%, blocking noise regulations on MARA's Bitcoin mining facility. - MARA sued over petition flaws, claiming the proposed city aimed to "regulate it out of business," but the case was dismissed before the vote. - Residents cited environmental concerns while MARA implemented noise mitigation measures, highlighting tensions between crypto mining and local communities. - The outcome underscores regulatory challenges for Texas-based miners as l

Lina Khan will serve as co-chair for the transition team of New York City’s incoming mayor, Zohran Mamdani
