Ripple has announced that the XRP ledger (XRPL) is integrating with Wormhole, one of its major cross-chain protocols, to improve multi-chain compatibility.
According to today’s statement, the integration will take place on the XRPL mainnet and the Ethereum Virtual Machine (EVM) Sidechain.
“This integration with wormholes will allow for cross-chain messaging, asset transfer, and token issuance across multiple chains,” Ripple said in a statement. This move is in line with Ripple’s goal of making XRPL a central part of corporate finance’s on-chain infrastructure.
Wormhole’s services are already being used by leading financial institutions dealing with digital assets such as BlackRock, Securitize and Apollo. “Cross-chain compatibility is essential for true mass adoption,” said David Schwartz, co-founder of Ripple CTO and XRPL. Schwartz said that thanks to integration, tokens issued directly on the XRP ledger can be moved to different networks, maintaining control and local issuance in the process.
June has been a busy month for ripples. XRPL now supports Circle’s USDC Stablecoin on MainNet. Defi Platform Ondo Finance has added XRPL to its US government bond-based products support network. Ripple has also announced plans to launch an EVM-compatible sidechain in the second quarter of this year.
The new integration will allow developers and institutional investors to move digital assets to more than 35 supported blockchains, allowing cross-chain smart contract interactions at the same time.
*This is not investment advice.
