XDC Network: The scale of the trade finance on chain market reaches $15 trillion, aiming to promote the digitization of global trade settlements BlockBeats News: On June 1st, Travis John, head of institutional business at XDC Network, stated that the global trade finance market is approximately $15 trillion in size, but the industry still heavily relies on paper documents, manual review, and multiple layers of intermediaries, resulting in long settlement cycles, high financing costs, and fraud risks. It is reported that XDC Network digitizes trade financing, cross-border settlement, and collateral management by uploading trade documents such as invoices and bills of lading, helping companies reduce financing costs and improve settlement efficiency. XDC stated that the short-term trade financing interest rate for some small and medium-sized enterprises is expected to decrease from the traditional channel's highest of about 30% to about 10%. XDC stated that currently trade finance belongs to an important sub track of real-world assets (RWA) and on chain private credit, but only about $700 million of trade finance assets have been tokenized globally, and the penetration rate is still in the early stages. After the passage of the GENIUS Act in 2025, the development of compliant stablecoins will further promote the implementation of on chain trade settlement applications. In addition, XDC plans to acquire Contour Network, a trade finance platform supported by over 100 financial institutions including HSBC, Citibank, and Standard Chartered Bank, in 2025, with the aim of integrating stablecoin settlement capabilities into the existing trade finance network. [Original link]