$XDC Ventures, the venture capital arm of $XDC Network, has invested in ScallopX, a fintech platform that bridges traditional finance and digital assets. The deal will enable $XDC and $USDC on the $XDC Network to power ScallopX’s prepaid cards, Apple Pay spending, fiat and stablecoin on- and off-ramps, multi-currency accounts, and cross-border payouts to over 70 markets.
Ritesh Kakkad, Co-Founder of $XDC Network, emphasized that the next wave of blockchain adoption will come from real-world payments, not trading. He highlighted that ScallopX provides a direct path for $XDC and $USDC to integrate with cards, fiat accounts, and cross-border payouts, positioning the network for future advancements in agentic AI and ISO 20022 financial messaging.
Beyond consumer payments, $XDC Ventures and ScallopX plan to develop white-label payment super apps for banks, fintechs, and developers. These apps will combine fiat accounts, cards, stablecoin wallets, ISO 20022 messaging, and agentic AI payments, leveraging $XDC Network’s fast and low-cost settlement capabilities.
Raj Bagadi, Founder and CEO of ScallopX, noted that the investment from $XDC Ventures is a significant catalyst. He praised $XDC’s institutional credibility and rapid innovation in real-world assets (RWAs) and AI agent payment rails, stating that the partnership will equip enterprises and autonomous platforms with tools to deploy compliant financial services quickly.
ScallopX has secured Money Services Business (MSB) registrations in the United States and Canada, alongside European virtual asset permissions, and is exploring opportunities in Hong Kong. The deal follows $XDC Ventures’ acquisition of Contour Network, a trade finance platform, further positioning $XDC Network as a key settlement infrastructure connecting traditional finance, digital assets, and AI-driven commerce.