Money2020 Asia GEM: XDC Network With Co-Founder Atul Khekade and teammates Santosh Vishwasrao, Rebecah Dausen, and Satheesh Kumar | Aleksei DOLGIKH

Fintech Analysis: Blockchain in Trade Finance and XDC Network Insights

Key Points

• Research suggests blockchain is transforming trade finance by reducing costs, enhancing security, and speeding up transactions.
• It seems likely that XDC Network, led by figures like Atul Khekade, is a key player in tokenizing real-world assets for trade finance.
• Evidence leans toward significant investments in fintech, though specific grants for blockchain in trade finance are less documented.
• The FUMO podcast episode likely highlights XDC Network’s role in addressing a $5 trillion trade finance gap, contributing to fintech innovation.

Support Aleksei DOLGIKH CoinMarketCap Commit To The Blockahin Ecosystem

* Overview by your CoinMarketCap truly Aleksei Dolgikh | for hate, support, love and collaborations, donate: at my BTC wallet bc1qvf6hlcnlqttj02gcl65v4x44u9aayly58gdfuz or at my SOL wallet 7JpUfPq3XQ6r1oRy16ne2HtzZ7XjmRigatkRL2kfSpQ1 or at my TON wallet UQApDresuUB2SoP5aBUDDg06bKgcHAWTRAYBddKluZhHZ3UE or at my ETH/BNB wallet 0x211D91beD006f7bB3Eaf97496260a8F905298Cea | 👨🏼‍🌾🦄 Any time text Aleksei Dolgikh in WA/Botim +79528485427, newer awailable for incoming call, there is always one scenario, you write a text, I call if I want to :)

Overview of Fintech and Blockchain

Blockchain technology is reshaping fintech, particularly in trade finance, by making transactions faster, cheaper, and more secure. For example, it can cut remittance costs by up to 80% and improve transparency in cross-border payments. The global blockchain fintech market is growing rapidly, expected to reach $31.84 billion by 2029, driven by innovations like tokenization and smart contracts (TechMagic).

Key Players and Investors

XDC Network, a leader in trade finance blockchain, is backed by investors like GTR Ventures and LDA Capital, who have contributed $35.3 million. Influential figures include Atul Khekade and Ritesh Kakkad, who are driving XDC’s mission to digitize trade finance (PitchBook). Other platforms, like we.trade, involve major banks such as CaixaBank and UBS.

Funding and Grants

While specific grants for blockchain in trade finance are hard to pinpoint, programs like UNICEF’s Venture Fund support related areas, such as supply chain tracking, with up to $100,000 in funding. XDC Network’s funding from private investors highlights the sector’s appeal (UNICEF).

Real-World Implementations

Blockchain is already in use for trade finance. For instance, we.trade by CaixaBank uses smart contracts to streamline payments for small businesses, while CryptoBLK’s ATLAS Alpha Network digitizes invoice financing, involving 25 organizations in trials (The Fintech Times).

FUMO Podcast Insights

The FUMO podcast episode, featuring XDC Network’s Atul Khekade and Ritesh Kakkad, discusses how blockchain can manage real-world assets, like trade documents, to address a $5 trillion trade finance gap. It emphasizes XDC’s global reach in places like Singapore and the UK, showing its practical impact on fintech (CFTE).

Comprehensive Report: Blockchain’s Role in Trade Finance and XDC Network’s Contributions

This report provides an in-depth analysis of fintech, focusing on blockchain’s transformative impact on trade finance. It covers current trends, key investors and influential figures (particularly those associated with XDC Network), significant grants and funding, real-world implementations, and insights from the FUMO podcast episode titled “Money2020 Asia GEM: XDC Network With Co-Founder Atul Khekade and teammates Santosh Vishwasrao, Rebecah Dausen, and Satheesh Kumar.” The information is sourced from authoritative references to ensure accuracy and relevance as of April 26, 2025.

1. Current State of Fintech: Blockchain and Trade Finance

The fintech industry is dynamic, with blockchain technology at the forefront of innovation, particularly in trade finance. Below are the major trends and developments shaping this space:

• Market Growth and Projections: The global blockchain in fintech market was valued at $10.02 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 87.7% through 2030. By 2029, the market is expected to reach $31.84 billion, with a CAGR of 46.92% from 2024 to 2029. The decentralized finance (DeFi) market, closely tied to blockchain, is forecasted to generate $26,170 million in revenue in 2024, rising to over $37,000 million by 2028 at a CAGR of 9.07% (TechMagic, Mordor Intelligence).
• Key Benefits for Trade Finance: Blockchain enhances trade finance by:Reducing Costs: For example, it can lower remittance costs by up to 80%, making cross-border transactions more affordable (TechMagic).
  Improving Security: Decentralization, encryption, and immutability protect against fraud and errors.
  Speeding Up Processes: Real-time settlement and smart contracts streamline complex trade finance workflows (Consensys).
  
• Global Impact: The World Economic Forum estimates blockchain could boost global trade by $1 trillion over the next decade by improving efficiency and enabling seamless cross-border transactions. The distributed ledger market, including trade finance applications, is expected to reach nearly $1,000 trillion by 2032, driven by use cases like digital identity and smart contracts (ICC Academy, Statista).
• Investment Trends: In 2021, venture capitalists invested over $133 billion in fintech startups, nearly tripling the previous year’s amount, reflecting strong investor confidence in blockchain and related technologies (Forbes).

2. Key Investors and Influential Figures

The fintech sector, particularly blockchain in trade finance, is driven by visionary leaders and strategic investors. Below are details specific to XDC Network and broader fintech initiatives:

• XDC Network Investors:
  XDC Network has secured $35.3 million in funding from:GTR Ventures: A venture capital firm specializing in blockchain and fintech innovations.
  LDA Capital: An investment firm focused on blockchain and digital assets, contributing significantly to XDC’s growth.
  Universal Capital: A financial services firm supporting blockchain projects (PitchBook).
  Additionally, XDC Network raised approximately 14 million euros during its 2018 initial coin offering (ICO), selling 10% of its token supply (BLOX).
  
• Influential Figures in XDC Network:Atul Khekade: Co-founder and a leading figure in XDC Network, with 14 years of experience in blockchain technology. He has developed permissioned blockchains for major Asian banks and is focused on bridging the $5 trillion trade finance gap through tokenization (CFTE, Genfinity).
  Ritesh Kakkad: Co-founder with over 20 years of expertise in cloud hosting and web infrastructure, recognized by Microsoft and BBC. He drives XDC’s technical development and protocol setup (CFTE).
  Peter Yeo: A key contributor to XDC Network’s strategic direction, supporting its growth in trade finance applications (BLOX).
  
• Broader Fintech Figures:Leaders in other trade finance platforms, such as Duncan Wong (CEO of CryptoBLK, behind ATLAS Alpha Network), are also influential, driving blockchain adoption in trade finance (The Fintech Times).
  

3. Significant Grants and Funding

While specific grants exclusively for blockchain in trade finance are scarce, several funding programs support blockchain initiatives that could be applied to trade finance:

• General Blockchain Funding:BNB Chain Grants: Offers funding to developers building on the BNB Chain, potentially applicable to trade finance solutions (BNB Chain).
  UNICEF Venture Fund: Provides up to $100,000 in equity-free cryptocurrency investments for blockchain startups in UNICEF program countries. Focus areas include tracking supply chains and trading commodities, which are directly relevant to trade finance (UNICEF).
  European Commission Horizon Program: From 2016 to 2019, the EU allocated €180 million for blockchain research and innovation, with further funding expected through Horizon Europe. Projects like MyHealthMyData (€3.4 million) and DECODE (€4.9 million) demonstrate the EU’s commitment to blockchain, though not specifically for trade finance (European Commission).
  
• XDC Network Funding:Beyond its $35.3 million from private investors, XDC Network has benefited from strategic partnerships, such as with Plug and Play’s Innovation Platform, which supports startups in payments and trade finance (PR Newswire).
  

4. Real-World Blockchain Implementations in Trade Finance

Blockchain is being actively deployed in trade finance, delivering tangible benefits like reduced costs, enhanced transparency, and faster transactions. Below are key examples:

• ATLAS Alpha Network by CryptoBLK:A Hong Kong-based platform digitizing factoring, invoice financing, and purchase order financing.
  Partnered with Microsoft, it has engaged 25 organizations in a 4-week trial, targeting banks, enterprises, and financiers.
  Benefits include streamlined processes, reduced costs, and improved access to credit for SMEs (The Fintech Times).
  
• we.trade by CaixaBank:Built on the IBM Blockchain Platform using Hyperledger Fabric, with 12 shareholders, including CaixaBank, Erste Bank, and UBS.
  Targets small and medium enterprises (SMEs) and micro-businesses, offering features like know-your-customer (KYC) compliance, real-time settlement, tracking, and smart contracts for open-account trade finance.
  Enhances cash flow and links payments to goods delivery, improving trust and efficiency (The Fintech Times).
  
• LiquidX Supply Chain Finance Solution:A cloud-based platform structuring supply chain finance programs, managing funding, and monitoring supplier onboarding.
  Initially includes suppliers from the U.S., Canada, and Mexico, with plans to expand to Europe and Asia.
  Offers personalization and collaboration with corporate and bank clients, improving liquidity and operational efficiency (The Fintech Times).
  
• XDC Network Implementations:XDC Network supports tokenization of trade finance assets, such as invoices and bills of lading, enabling digital transactions. For example, Tradeteq’s U.S. Treasury Token (USTY) on XDC Network provides investors exposure to a multibillion-dollar ETF (XDC Network).
  Partnerships with TradeFlow Capital have facilitated digital transactions using electronic bills of lading, enhancing transparency and liquidity (Nasdaq).
  

5. Analysis of the FUMO Podcast Episode

The FUMO podcast episode, while referenced by the user as “Money2020 Asia GEM: XDC Network With Co-Founder Atul Khekade and teammates Santosh Vishwasrao, Rebecah Dausen, and Satheesh Kumar,” appears to align closely with the episode titled “Blockchain for real world assets | Atul Khekade and Ritesh Kakkad from XDC Network | FUMO Episode 1,” hosted by Ronit Ghose and Gaurav Dhar. Due to the lack of direct access to the exact episode, the analysis is based on available summaries and related content, assuming the user’s reference may reflect a variation in title or event context.

• Episode Overview:Hosted by Ronit Ghose (Global Head, Future of Finance, Citi) and Gaurav Dhar (CEO, Marshal Fintech Partners), the episode explores XDC Network’s integration of blockchain with real-world asset management, focusing on trade finance and tokenization.
  It highlights practical applications beyond cryptocurrencies, emphasizing XDC’s role in addressing inefficiencies in global trade finance (CFTE, YouTube).
  
• Key Discussion Points:Real-World Assets (RWA) Economy: The episode estimates the RWA economy at $30-40 trillion, with a $5 trillion gap in trade finance. XDC Network aims to bridge this gap by tokenizing trade documents, enabling digital and efficient transactions.
  XDC Network Achievements: The network has a total value locked (TVL) of approximately $520 million in trade finance and a community of several million. Starting with two founders in 2016 and launching in 2017, it now involves thousands of contributors.
  Geographical Expansion: XDC Network is gaining traction in regions like Hong Kong, Singapore, the UK, Australia, and the UAE, supported by regulatory advancements such as Singapore’s custody license in 2021 and diverse licenses in the UAE’s ADGM (YouTube).
  Technical Insights: Discussions include the backbone of Layer 1 blockchain, the operation of decentralized autonomous organizations (DAOs) versus traditional business structures, and the future of blockchain technology.
  
• Relevance to Fintech Landscape:The episode underscores XDC Network’s utility-driven approach, focusing on solving real-world trade finance challenges rather than speculative cryptocurrency trading.
  It highlights the network’s potential to integrate with traditional financial systems, such as SWIFT, while addressing modern demands for speed, transparency, and accessibility.
  By featuring key figures like Atul Khekade and Ritesh Kakkad, the podcast provides authoritative insights into how blockchain can transform trade finance, aligning with broader fintech trends like digital asset tokenization and interoperability.
  
• Limitations:The exact episode referenced by the user could not be located under the specified title, suggesting a possible discrepancy in naming or event context (e.g., Money2020 Asia). The analysis relies on the closest matching episode, which does not mention Santosh Vishwasrao, Rebecah Dausen, or Satheesh Kumar, indicating they may have been referenced in a different context or event.
  

Summary Table of Key Findings

CategoryDetailsMarket TrendsBlockchain fintech market to reach $31.84B by 2029; DeFi revenue to exceed $37B by 2028; 80% cost reduction in remittancesXDC Network InvestorsGTR Ventures, LDA Capital, Universal Capital ($35.3M total funding)Influential FiguresAtul Khekade, Ritesh Kakkad, Peter Yeo (XDC Network co-founders)Grants/FundingUNICEF Venture Fund ($100K for supply chain/trade), EU Horizon (€180M for blockchain)ImplementationsATLAS Alpha Network (CryptoBLK), we.trade (CaixaBank), LiquidX, XDC Network tokenizationPodcast InsightsXDC Network addresses $5T trade finance gap; $520M TVL; global adoption in Singapore, UK

Conclusion

Blockchain is revolutionizing trade finance by addressing inefficiencies, reducing costs, and enhancing transparency, with XDC Network playing a pivotal role through its focus on real-world asset tokenization. Backed by investors like GTR Ventures and led by figures like Atul Khekade, XDC Network is bridging a $5 trillion trade finance gap, as highlighted in the FUMO podcast. While specific grants for blockchain in trade finance are limited, broader funding programs support related innovations. Real-world implementations, such as we.trade and ATLAS Alpha Network, demonstrate blockchain’s practical impact. This report provides a comprehensive view of the fintech landscape, grounded in authoritative sources, to inform your understanding of these developments.

Key Citations

• Blockchain Revolutionizing Fintech Industry
• Fintech Blockchain Market Analysis
• Fintech Investment Trends
• XDC Network Funding Profile
• XDC Network Overview
• BNB Chain Grants Program
• UNICEF Blockchain Funding Opportunity
• EU Blockchain Funding Initiatives
• Blockchain Trade Finance Platforms
• FUMO Podcast on XDC Network
• YouTube FUMO Podcast Episode
• XDC Network Partnership with Plug and Play
• Atul Khekade’s Vision for XDC Network
• XDC Network’s Transformational Year 2023
• Distributed Ledger Market Size
• Blockchain in Trade Finance Challenges
• Blockchain Use Cases in Finance
• XDC Network and TradeFlow Partnership