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Blockchain

Wanchain and XinFin to Develop XDC Bridges

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London, United Kingdom–(Newsfile Corp. – April 20, 2022) – XinFin, a third-generation, hybrid blockchain that aims to enhance synergies between private and public blockchain development, is deploying bridges for its XDC token in collaboration with DIMO and Wanchain.

Wanchain & XinFin

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The bridges will initially link XDC to BNB Chain, Polygon, Avalanche and Wanchain, with plans for Wanchain to provide XinFin with continuous support by introducing BTC, ETH, WAN and others assets to XinFin’s growing ecosystem. XinFin’s growth partner, DIMO, is promoting the need for XDC on other chains while also developing use cases for Wanchain wrapped assets on XinFin.

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XinFin currently represents one of the most competitive blockchains, with the objective of building a decentralised network that is able to facilitate global finance. Being hybrid and permissioned, XinFin provides a fast, efficient and convenient blockchain that aims to facilitate blockchain adoption by private organisations and public institutions.

Wanchain, with its unmatched crosschain infrastructure, becomes critical to XinFin’s expansion. Since 2017, Wanchain has been working to develop the world’s premier interoperability solution by building a wide area network of blockchains. Currently, Wanchain connects more than 15 Layer 1 and Layer 2 networks including but not limited to Arbitrum, Avalanche, Bitcoin, Ethereum, Litecoin, XRP Ledger, Polkadot, and XRP Ledger and now XinFin. To begin, Wanchain will connect XinFin’s XDC to Avalanche, BNB chain, Polygon and Wanchain’s own Layer 1 blockchain. Wanchain’s platform offers complete connectivity to the blockchain ecosystem of every chain it supports, providing decentralised direct bridges that allow users to join dApps on any target chain.

“XinFin was born with the intention of reaching what others were not able to. In a world where technology, time and efficiency become more and more essential, XinFin aims to build a network where enterprises and governments can seamlessly use blockchain resources,” says Atul Khekade, co-founder at XinFin. “That is why the collaboration with Wanchain, to bridge XinFin to other platforms, is of crucial importance to achieve the objective of a decentralised and effective global system.”

XinFin’s partnership with DIMO helps bolster the business development aspect of this collaboration. DIMO, along with XinFin, was founded to incentivise digitization and data collection through the use of blockchain. Along with this, DIMO and XinFin have been monumental together in growing the retail adoption for the blockchain.

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About XinFin

XinFin is an enterprise-grade, EVM-compatible, hybrid blockchain, equipped with public and private states and interoperable smart contracts. It modernizes the global trade and finance sector through an accessible, efficient, and highly versatile decentralized infrastructure solution. XinFin is designed to complement the legacy financial ecosystem by providing a permissioned blockchain that governments, enterprises and private firms can use to overhaul their tech stack and power a range of novel use cases. XDC is the fuel token of the XinFin network. Much like Ethereum’s Ether (ETH), it is used for paying transaction fees and smart contract operations

About Wanchain

Wanchain, the Wide Area Network chain, is a decentralised blockchain interoperability solution with a mission to drive blockchain adoption through interoperability by building fully decentralised, non-custodial bridges that connect the world’s many siloed blockchain networks. Wanchain empowers developers to build truly decentralised crosschain applications to power the future of DeFi.

Contact:
Temujin Louie
Director of Marketing
[email protected]

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120998

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

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Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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