The XRP Ledger (XRPL) has taken another step toward broader blockchain interoperability with the launch of native cross-chain transfers through Axelar Network.
Because of this integration, both the XRP Ledger and the XRPL EVM Sidechain are available via the Axelar App. This allows users to move supported assets across multiple blockchain networks with little to no friction.
Initially, the integration supports XRP alongside several other assets, including SHx, USDf, SOIL, WETH, WBTC, mBTC, mTBILL and mXRP.
The XRP Ledger Foundation has noted that users can now "move assets cross-chain and settle in seconds on the XRP Ledger."
Cross-chain infrastructure is meant to solve interoperability, which remains one of the biggest challenges in the realm of blockchain.
Interoperability protocols such as Axelar make it possible for tokens to move securely between different blockchains. This expands liquidity, opens broader access to DeFi applications, and lets developers interact with assets on multiple networks.
Recent XRPL-related developments
Ripple and the XRP Ledger ecosystem continue to expand their focus beyond payments.
Earlier this week, Ripple announced investments in ZILO and Licuido, further developing capital markets on the XRP Ledger.
The move follows Aviva Investors' tokenization of its U.S. Dollar Liquidity Fund on XRPL.
Ripple President Monica Long recently said the industry has reached a turning point, with financial institutions now moving from testing to production deployments.
She reiterated that Ripple aims to provide the full infrastructure stack for using tokenized assets on the XRP Ledger.
Infrastructure improvements have also continued elsewhere across the ecosystem. Earlier this week, the XRP Ledger Foundation announced a partnership with Ankr to expand globally distributed XRPL node infrastructure.
Meanwhile, the foundation is collaborating with VS1 Finance on an open-source reference application for lending on XRPL.
In the meantime, XRPL developers are preparing for the upcoming xrpld 3.3.0 release. According to XRP Ledger Operations, 100% of dUNL validators have already upgraded to XRPL 3.2.1.
U.Today Editorial Team
Dan Burgin
