Deutsche Telekom MMS expands its Web 3.0 services by joining XDC Network, focusing on tokenized assets and trade finance.
Deutsche Telekom MMS enhances SQD Network’s decentralization by providing resilient and scalable infrastructure as a new partner.
Deutsche Telekom MMS boosts blockchain push, now operating standby master nodes on XDC and planning to enter Bitcoin mining.
The German telecom behemoth, Deutsche Telekom MMS, has announced a major expansion of its Web 3.0 services. It will now extend its operations to the XDC Network (XDC). This network is a blockchain focusing on tokenized Real-World Assets (RWA), trade finance, and Decentralized Physical Infrastructure (DePin).
DEUTSCHE TELEKOM EXPANDS WEB3 SERVICES WITH XDC NETWORK INTEGRATIONDeutsche Telekom is boosting its Web3 presence by partnering with the XDC Network to enhance tokenized real-world assets, trade finance, and decentralized infrastructure. Deutsche Telekom MMS will act as an… pic.twitter.com/Oy8DT0yuHy
— Crypto Town Hall (@Crypto_TownHall) July 25, 2024
XDC Network: EVM-Compatible Layer-1 with Low Fees
XDC Network, an Ethereum Virtual Machine (EVM)-compatible Layer-1, offers fast transaction speeds with “near zero” gas fees. Notably, both USD and euro-pegged stablecoins are hosted on the network.
Moreover, tokenized versions of assets, such as gold and US Treasuries, are available. The EURS stablecoin, deployed by STASIS on the XDC Network two years ago, is a prime example.
In several Proof-of-Stake (PoS) networks it hold one or more validators, and Three of those are Ethereum, Polkadot and Polygon or rather MATIC as it is popularly known. Additionally, it provides a staking service to customers. This service allows customers to deposit tokens and earn rewards for network maintenance.
By joining the XDC Network as an infrastructure provider, Deutsche Telekom MMS will run a standby master node. This node is unique as it does not validate transactions by default. Instead, it activates when the number of active validator master nodes falls below the required 108.
Dirk Röder, head of Deutsche Telekom MMS’s Web 3.0 unit, emphasized the importance of this alliance. He noted that it leverages the firm’s enterprise-grade infrastructure to support secure blockchain applications, particularly in finance.
Strategic Partnerships and Future Plans
This move points out Deutsche Telekom’s increasing blockchain ambitions. Röder previously hinted at this expansion at the Bitcoin Prague conference last month. He mentioned that MMS plans to enter the Bitcoin (BTC) mining industry. The company already operates nodes on the Bitcoin and Lightning networks.
Earlier this month, Deutsche Telekom joined SQD Network, formerly Subsquid. The partnership involves providing worker nodes, decentralized storage, and computing resources. Röder highlighted that Deutsche Telekom MMS’s role is to enhance SQD’s decentralization.
This will be achieved by providing resilient and scalable infrastructure. He noted that this would “strengthen the security and scalability of the network and support Subsquid’s powerful data lake.”
Additionally, Deutsche Telekom has shown interest in Artificial Intelligence (AI). This interest led to a strategic partnership with the Fetch.ai Foundation earlier this year. This collaboration also made Deutsche Telekom one of Fetch.ai Foundation’s first official corporate partners.
Read also:
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Germany’s Deutsche Telekom Ventures into Bitcoin Mining and Blockchain Innovation
Will XRP and XLM Lose in the Face of the Rising XDC?
SBI Joins Forces with XDC Network to Boost Expansion in Japan’s Financial Sector
Deutsche Bank Enters the Crypto Race with Digital Asset License Application
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