Axelar and XRPL hope this new capability will ensure secure cross-chain exchanges of multiple payload types.
As such, Axelar and Ripple have endeavoured to strike a partnership that goes beyond simple bridging transactions – where assets are represented on different chains but ultimately remain locked to one.
With Axelar’s GMP, XRP transactions can transcend the XRPL, thus fostering a more sophisticated, unified experience in dApps that utilise XRP.
Georgios Vlachos, Co-founder of the Axelar Protocol and Director at Axelar Foundation, says: “Connecting XRPL demonstrates Axelar network’s market-leading ability to integrate diverse consensus mechanisms into a unified environment for building seamless user experiences that scale everywhere.
“Axelar already connects Cosmos, EVM and Polkadot chains in its fast-growing network of interoperable blockchains. XRPL adds a powerhouse of DeFi and RWA innovation into the growing Axelar ecosystem.
“The Axelar Foundation is excited to support this integration and expand the interconnected world of Web3 together with Ripple and XRPL.”
In its approach to cross-chain security, Axelar employs permissionless proof-of-stake validation, with risk-mitigation layers such as validator security policies and contract limits on how much can be transferred in a given period.
It will integrate the XRPL into its secure cross-chain infrastructure via a multi-signature contract with 32 Axelar validators signing transactions to and from the XRPL.
David Schwartz, CTO of Ripple and Co-creator of the XRPL, adds: “The advancement of blockchain interoperability can break down the silos between networks, enabling seamless interaction and value transfer across diverse platforms.
“This shift will drive innovation, particularly in DeFi, and could help lead to a more interconnected and accessible blockchain ecosystem.
“This initiative from Axelar will help enhance the XRPL’s interoperability by extending it to a wider network of blockchain environments while complementing the XRPL’s rich feature set and opening up new pathways for utility and innovation.”