Multichain is supporting XRP Ledger (XRPL) for cross-chain connection with EVM and non-EVM compliant blockchains
As the infrastructure developed for arbitrary cross-chain interactions, Multichain has been devoted to constructing a multi-chain ecosystem since day one. We deeply believe that blockchains should not be isolated from each other but interwork with each other freely. A free and healthy blockchain ecosystem is the foundation of a high-quality community.
Over the last few months, we have made major steps towards our goal of boosting the multi-chain ecosystem by integrating with a wide variety of blockchains. Today, we are thrilled to reveal that the next blockchain we will integrate with is the XRP Ledger, which will enable hundreds of thousands of DeFi users to transfer assets among XRP Ledger and other blockchains, seamlessly.
Through the integration with XRP Ledger, Multichain will support cross-chain transfer of XRP, XRP Ledger’s native digital asset, with Ripple’s technical assistance. Moreover, $ETH, $MATIC, $AVAX, $FTM, $USDT, $USDC, $FRAX and other assets will flow straight to the XRP Ledger as well.
The XRP Ledger is a public blockchain, created in 2012 with the first decentralized exchange DEX. The blockchain was built for easy, efficient and low cost movement of value. Other capabilities inherent to the XRP Ledger such as auto-bridging allow for assets transferred to the XRPL to access the DEX’s existing liquidity to create synthetic order books for assets. Pathfinding functionality also allows assets to find an efficient path for a trade. Since its inception, more than $200 billion has been traded on the XRP Ledger’s DEX.
Speaking of this integration, the Co-founder of Multichain Zhaojun said: ‘DeFi users will be able to access the XRPL ecosystem and leverage the power of XRP Ledger, which is known to be extremely fast, cheap and scalable for movement of value. Additionally, it will be a boost for XRP Ledger’s interoperability with the growing blockchain space. Together, we will make joint efforts to build a multi-chain ecosystem.’
Multichain was born as Anyswap on the 20th July 2020 to service the clear needs of different and diverse blockchains to communicate with each other. As a cross-chain infrastructure, Multichain facilitates interoperability across different networks and enables seamless transfers of assets and values. With a constantly growing family of non-EVM and EVM chains (now 39), Multichain is the leader in the cross-chain field.
Its sustained daily volume of more than $200 million, its Total Value Locked in excess of $6 billion and its thousands of daily users are testament to its popularity and security.
Ripple is a crypto solutions company that transforms how the world moves, manages and tokenizes value to inspire new business models and create more economic opportunity. Ripple’s long-term vision is to enable the Internet of Value, where the world moves value like information moves today. Through RippleX, Ripple contributes to accelerating the Internet of Value by inspiring and enabling developers to build solutions that use the XRP Ledger, its native digital asset XRP, and related technologies.