Swiftcourt goes global with entry into Sri Lanka market

Monday, 8 July 2024 02:42 -     - {{hitsCtrl.values.hits}}

  • Europe’s leading platform for secure C2C transactions to introduce blockchain-enabled Escrow payment service supported by XVC Tech and XDC Network

Swiftcourt, the leading platform for secure consumer-to-consumer (C2C) transactions in Europe, is set to revolutionise the global marketplace landscape by integrating advanced blockchain technologies. 

Since 2017, Swiftcourt has empowered marketplaces across Europe to become fully transactional, offering digital sales contracts, escrow payments, and a suite of add-on services. This innovation has facilitated over 700,000 secure transactions for more than 1.5 million Europeans, earning the platform a stellar TrustScore of 4.8.

Last year, Swiftcourt announced a seed round of € 2 million from XVC Tech, an investment company backed by the founders of the XDC Network. XVC Tech focuses on investments that drive Web 2 to Web 3 transformation, making it the perfect partner for Swiftcourt’s next phase of growth.

Together, Swiftcourt and XVC Tech are poised to accelerate Swiftcourt’s global expansion by incorporating blockchain technologies into Swiftcourt’s already robust C2C transaction framework. This integration will enhance Swiftcourt’s digital contracts and secure escrow payments with the scalability, security, and transparency provided by the XDC Network.

With the addition of the XDC Network’s capabilities, Swiftcourt will deploy smart contracts to govern escrowing processes and mint NFTs and utility tokens to manage the exchange of goods. This will allow transacting parties to handle transactions in real-time and in fiat currency without worrying about banking timelines.

Swiftcourt has its sights set on expanding into the Indian market, with the first step being the launch in Sri Lanka within the next few weeks. This marks Swiftcourt’s initial foray into an international market.

Swiftcourt Co-CEO Johan Hedén Hultgren said: “Sri Lanka is the perfect test bed for launching our first blockchain-based escrow payment service before entering the massive Indian market. We are excited to finally go live on the XDC Network and greatly appreciate the support from XVC Tech funding.”

In an exciting teaser, Swiftcourt hints at a significant partnership in the Sri Lanka market. The partnership will surely enable secure transactions across the entire island. More details will be revealed as the launch date approaches.

As Swiftcourt continues to gain traction in EU markets with its combined service of digital sales contracts and open banking-based escrow payments, the company is now looking to accelerate its global scaling efforts. A new round of investments will be opened later this year to support these ambitious plans.

Swiftcourt AB is a pioneering tech company specialising in secure peer-to-peer transactions.

With a focus on revolutionising the re-commerce industry, Swiftcourt offers innovative solutions that ensure safe and efficient transactions for both buyers and sellers.

XVC is an investment company based out of Dubai with a focus on early-stage investments in Next-Gen technology projects backed by XDC Network’s founders. XVC Tech has a global investment mandate to invest across Web3 native projects as well as Web 2 to Web 3 transformation projects.

The XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM-compatible,

Layer 1 blockchain. The network obtains consensus via a specially delegated proof-ofstake (XDPoS) technique that allows for 2-second transaction times, near-zero gas expenses ($ 0.0001), over 2000 TPS, and interoperability with ISO 20022 financial messaging standards. The XDC Network powers a wide range of novel blockchain use cases that are secure, scalable, and highly efficient.