The firm did not disclose the acquisition price.
XDC Ventures, the investment arm of XDC Network and headquartered in Dubai, has acquired Contour Network, a Singapore-based digital trade-finance platform that digitizes letters of credit and cross-border documentation.
Contour was previously backed by global banks including HSBC, Standard Chartered, BNP Paribas, Citi, DBS, ING, Bangkok Bank, and CTBC Bank.
XDC Ventures plans to restructure Contour’s strategy, including launching a stable-coin lab to develop pilots with banks and corporates for regulated stable-coin issuance and settlement.
The company aims to use Contour’s infrastructure to optimize treasury returns and develop APIs for stable-coin-based letter of credit settlement.
Contour will integrate the XDC Network as its settlement and tokenization layer, with support for Circle’s USDC stable-coin to enable faster, lower-cost cross-border transactions.
Immediate plans include launching pilots, expanding partnerships, and working with regulators in the US, EU, GCC, and Asia.
Source: Tech in Asia
