Ripple partners with Axelar to improve interoperability of XRP Ledger blockchain | Cryptocurrency and Blockchain News

By Crypto Gloom On Feb 28, 2024

This partnership will give developers access to Axelar’s Generic Message Passing (GMP) technology to execute smart contract calls on more than 55 blockchains. By making it easier to deploy decentralized apps (dApps) on XRPL, this integration promotes a more integrated ecosystem.

David Schwartz, Ripple’s Chief Technology Officer and XRPL co-creator, emphasized the importance of real-world asset tokenization in advancing the blockchain economy. He sees traditional lending platforms implementing tokenized RWA broadly, opening the door to secured lending.

Founded in 2020, Canadian startup Axelar provides an inter-blockchain communication layer that facilitates secure data exchange without intermediaries. Stablecoins and large assets will have liquidity thanks to the Axelar Network integration in the XRPL DeFi ecosystem. Additionally, developers can take advantage of the native features of XRPL. This includes a native decentralized exchange (DEX) and the upcoming Automated Market Maker (AMM). They aim to leverage advanced RWA and DeFi features.

This collaboration represents an important milestone in blockchain interoperability, bridging the connections between XRPL and Axelar’s network ecosystem. By expanding the scope of interoperability, this initiative opens new pathways for usability and innovation within the blockchain environment.

The Axelar Network’s integration with XRPL is scheduled to launch in May and promises to improve blockchain interoperability and usability. Follow XRPL.org and axelar.network for further updates on this groundbreaking partnership.

About Axelar Network:

Scalable cross-chain solutions are made possible through Axelar, a programmable Web3 interoperability platform that connects over 50 blockchains through a secure and scalable network.

XRP Ledger (XRPL) Information:

XRP Ledger is a decentralized layer 1 blockchain known for its reliability and stability for tokenizing and exchanging crypto and real-world assets. Trusted by over 1,000 architects and enterprises worldwide, XRPL delivers institutional-grade functionality. Enables secure, efficient, and scalable financial services and use cases.