XDC Ventures Backs ScallopX to Take XDC and USDC From Wallet to Checkout

$XDC Ventures (XVC Tech), the US$125 million venture capital arm of $XDC Network, has made a strategic investment in ScallopX, a global fintech platform that connects traditional financial services with digital assets. Through the deal, native $XDC and $USDC on $XDC Network will power Scallop prepaid cards, Apple Pay spending, fiat and stablecoin on- and off-ramps, multi-currency accounts and currency swaps, alongside cross-border payouts to more than 70 markets.

"Blockchain's next wave of adoption won't come from trading. It will come from people paying for groceries, businesses settling invoices and, increasingly, AI agents transacting on their behalf," says Ritesh Kakkad, Co-Founder, $XDC Network. "That only happens when digital assets run on regulated, compliance-ready rails that connect to real-world payments. ScallopX gives $XDC and $USDC a direct path into cards, fiat accounts and cross-border payouts, and positions us for what comes next in agentic AI and ISO 20022 financial messaging."

Beyond consumer payments, $XDC Ventures and ScallopX plan to explore white-label payment super apps for banks, fintechs and developers, combining fiat accounts, cards, stablecoin wallets, ISO 20022 messaging and agentic AI payments. Built on $XDC Network’s fast, low-cost settlement, these would help businesses launch financial products faster and automate cross-border transactions.

Raj Bagadi, Founder and CEO of ScallopX, added, "This strategic backing from $XDC Ventures is a significant catalyst. $XDC’s institutional credibility and rapid innovation across RWAs and AI agent payment rails via $XDC AI make them an ideal partner. Together, we are equipping enterprises, fintechs, and autonomous platforms with the tools to deploy compliant, next-generation financial services in record time."

ScallopX has publicly announced Money Services Business (MSB) registrations in the United States and Canada, alongside previously reported European virtual asset permissions, and is pursuing opportunities in key financial markets, including Hong Kong.

The deal marks $XDC Ventures’ another major move into regulated financial infrastructure, following its acquisition of Contour Network last year, a trade finance platform originally backed by major international banks. Where Contour anchors $XDC Network in institutional trade, ScallopX extends it to consumer and business payments, with compliance, KYC/AML standards and trusted payment infrastructure at the core of both. Together, they position $XDC Network as settlement infrastructure connecting traditional finance, digital assets, global payment applications and AI-driven commerce.