Allbridge Successfully Integrates Support for XRP Ledger

by Bilal Jafar
  • The integration brings DeFi to XRPL.
  • During Q2 of 2022, Allbridge aims to bring several unique assets to the XRP Ledger.
xrp

Allbridge, a prominent cross-chain bridge, announced today that it has successfully integrated support for the XRP Ledger (XRPL), one of the leading decentralized public blockchains built for payments. The company has added XRPL as the 14th chain.

Allbridge initially announced the integration of XRPL in January this year. Amid the growing adoption of the digital asset and DeFi ecosystem, the company has processed approximately $5.8 billion in transactions to date. Allbridge noted that the latest integration will allow the firm to link the XRP Ledger with several EVM and non-EVM compatible chains, including Solana, Terra and BNB Chain.

“Allbridge became the first bridge to connect XRP Ledger with the expansive DeFi ecosystem. The integration with XRPL allowed us to deeply enhance our cross-chain expertise and offer a truly unique solution to the market. Our end goal is to establish an interconnected cross-chain environment”, said Andriy Velykyy, the Co-Founder and CEO of Allbridge.

In March 2022, Ripple announced its plan to accelerate the development of XRPL and committed 1 billion XRP for the initiative.

XRP Ledger’s Adoption

Throughout the last year, the total number of transactions on XRPL increased substantially. XRPL’s rising adoption across financial firms in Asia has played an important role in the recent surge in transactions. In March 2021, Ripple announced its plan to support central banks through a private version of XRPL.

Allbridge’s latest integration will bring DeFi to the XRP Ledger. “Leveraging the XRPL’s native decentralized exchange (DEX) will also allow for the trading of leading stable coins and DeFi tokens directly on XRP Ledger,” Ripple noted in the announcement.

“Throughout Q2 2022, Allbridge plans to bring many unique assets to the XRP Ledger, starting with SOLO, a token of the Sologenic ecosystem. Ripple provided Allbridge with technical support to integrate the XRP Ledger through its deep blockchain expertise,” the blockchain firm added.

Allbridge, a prominent cross-chain bridge, announced today that it has successfully integrated support for the XRP Ledger (XRPL), one of the leading decentralized public blockchains built for payments. The company has added XRPL as the 14th chain.

Allbridge initially announced the integration of XRPL in January this year. Amid the growing adoption of the digital asset and DeFi ecosystem, the company has processed approximately $5.8 billion in transactions to date. Allbridge noted that the latest integration will allow the firm to link the XRP Ledger with several EVM and non-EVM compatible chains, including Solana, Terra and BNB Chain.

“Allbridge became the first bridge to connect XRP Ledger with the expansive DeFi ecosystem. The integration with XRPL allowed us to deeply enhance our cross-chain expertise and offer a truly unique solution to the market. Our end goal is to establish an interconnected cross-chain environment”, said Andriy Velykyy, the Co-Founder and CEO of Allbridge.

In March 2022, Ripple announced its plan to accelerate the development of XRPL and committed 1 billion XRP for the initiative.

XRP Ledger’s Adoption

Throughout the last year, the total number of transactions on XRPL increased substantially. XRPL’s rising adoption across financial firms in Asia has played an important role in the recent surge in transactions. In March 2021, Ripple announced its plan to support central banks through a private version of XRPL.

Allbridge’s latest integration will bring DeFi to the XRP Ledger. “Leveraging the XRPL’s native decentralized exchange (DEX) will also allow for the trading of leading stable coins and DeFi tokens directly on XRP Ledger,” Ripple noted in the announcement.

“Throughout Q2 2022, Allbridge plans to bring many unique assets to the XRP Ledger, starting with SOLO, a token of the Sologenic ecosystem. Ripple provided Allbridge with technical support to integrate the XRP Ledger through its deep blockchain expertise,” the blockchain firm added.

About the Author: Bilal Jafar
Bilal Jafar
  • 2441 Articles
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About the Author: Bilal Jafar
Bilal Jafar holds an MBA in Finance. In a professional career of more than 8 years, Jafar covered the evolution of FX, Cryptocurrencies, and Fintech. He started his career as a financial markets analyst and worked in different positions in the global media sector. Jafar writes about diverse topics within FX, Crypto, and the financial technology market.
  • 2441 Articles
  • 71 Followers

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