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SBI Holdings will work with UAE firm TradeFinex on a Japanese joint venture aimed at boosting adoption of its enterprise blockchain platform running on the XDC Network. SBI Holding and TradeFinex will look to drive trade finance adoption of EVM-compatible enterprise blockchain XDC Network through a new joint venture in Japan. UAE-based firm TradeFinex operates its own decentralized platform operating on the XDC Network for trade finance originators to connect to a variety of banks and lending institutions. Aimed at enterprise use cases, TradeFinex is primarily focused on providing blockchain-based trade finance products including invoicing, letters of credit, purchase order finance and supply chain finance. A visual representation of TradeFinex's trade finance stack. Source: TradeFinex. The XDC Network is an EVM-compatible layer 1 network that Features interoperable smart contracts. Its documentation describes the protocol as a “highly optimized, bespoke fork” of Ethereum that...

Ava Labs has introduced its new Evergreen subnets, aiming to help institutions improve control and intercompany communication on the blockchain. Ava Labs, the developer of the Avalanche layer-1 Blockchain platform, is introducing new institutional deployments to improve the Blockchain environment. On April 6, Ava Labs introduced Avalanche Evergreen Subnets, a suite of institutional blockchain tooling and customizations designed to address company-specific requirements for financial services. The new product aims to allow institutions to maintain control over their blockchain environment while enabling intercompany communication, Ava Labs’ institutional business development director, Morgan Krupetsky, told Cointelegraph. “Currently, many institutions are building use cases on enterprise blockchains such as Corda, Hyperledger, Quorum or R3, which inherently are not interoperable and rely on third-party bridges,” Krupetsky said. With Evergreen subnets, member institutions will be able to...