Allbridge, a company that transfers assets across networks, has added support for XRP Ledger (XRPL), a decentralized public blockchain developed for payments. The currency exchange network Ripple announced on Thursday (April 14th).
This integration was first introduced by Allbridge in January. Today, the company said it has fulfilled its promise by adding XRPL as the 14th chain.
With this latest version, Allbridge can connect XRPL to a number of Ethereum virtual machines (EVMs) and non-EVM compatible chains, including Solana, Terra, NEAR protocol, BNB chains, Fantom, and other chains supported by Allbridge. increase.
It is also promised that by leveraging XRPL’s Native Decentralized Exchange (DEX), it will be possible to trade stablecoins and decentralized finance (DeFi) tokens directly on XRP Ledger with each release.
“The integration with XRPL has significantly strengthened our cross-chain expertise and provided a truly unique solution to the market,” said Andriy Velykyy, co-founder and CEO of Allbridge, in a statement. I am. He added that his goal is to establish an interconnected cross-chain environment.
Allbridge announced in the second quarter that it will add assets to XRP Ledger, starting with SOLO, a token of the Sologenic ecosystem.
Ripple has provided Allbridge with technical support for integrating XRP ledgers through blockchain expertise, the company said. Together, Allbridge and Ripple “help improve cross-chain interoperability as much as many cryptocurrencies build for a multi-chain future.”
Last month, Ripple announced that it would commit 1 billion XRP to develop new use cases in the XRP ledger.
Read again: Ripple commits 1BXRP to advance XRP ledger development
This is an extension of the XRPL Grants program, which was deployed in 2021 and awarded $ 6 million to open source projects built on ledgers.
Ripple will support the deployment of the developer program and said that over the next 10 to 20 years, the donated XRP will be paid to developers considering building and extending the app. ..
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