XRP Ledger Launches Local Cross-Chain Transfers with Axelar Integration

XRP Ledger has initiated local cross-chain transfers through its integration with Axelar Network. This integration allows users to transfer supported assets between different blockchain networks with reduced friction. In the initial phase, XRP, SHx, USDf, SOIL, WETH, WBTC, mBTC, mTBILL, and mXRP are supported. The XRP Ledger Foundation announced that users can transfer their assets across chains and complete transactions on the XRP Ledger in seconds. Protocols like Axelar ensure the secure transfer of tokens between different networks. This week, Ripple announced investments in ZILO and Licuido, taking steps to enhance the capital markets infrastructure on the XRP Ledger. This development follows Aviva Investors' tokenization of the US Dollar Liquidity Fund on the XRPL. Ripple President Monica Long noted that financial institutions are beginning to transition from testing phases to real-world usage. The XRP Ledger Foundation has partnered with Ankr to expand the globally distributed XRPL node infrastructure. Additionally, work is underway with VS1 Finance on an open-source reference application for credit transactions on the XRPL. The developer front is preparing for the xrpld version 3.3.0.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.