XDC Ventures (XVC Tech), the $125 million venture arm of XDC Network, has made a strategic investment in ScallopX, a global fintech platform connecting traditional financial services with digital assets; the amount was not disclosed. Through the deal, native XDC and USDC stablecoin on XDC Network will power Scallop prepaid cards, Apple Pay spending, fiat and stablecoin on- and off-ramps, multi-currency accounts, swaps, and cross-border payouts to more than 70 markets. The main objective is to push blockchain and stablecoin rails into everyday payments through regulated, compliance-ready infrastructure, with plans to explore white-label payment super apps for banks and fintechs combining fiat accounts, cards, stablecoin wallets, ISO 20022 messaging, and AI agent payments; ScallopX holds US and Canadian money services business registrations and European virtual asset permissions. Key players include XDC Network co-founder Ritesh Kakkad, who said adoption will come from people paying for groceries and AI agents transacting for them, and ScallopX founder and CEO Raj Bagadi. The deal follows XDC Ventures’ acquisition of trade finance platform Contour Network last year.
XDC Ventures Backs ScallopX to Take XDC and USDC From Wallet to Checkout
