Cross-Chain Bridge Allbridge Brings DeFi to the XRP Ledger
Today, Allbridge has successfully integrated support for XRP Ledger (XRPL), a decentralized, public blockchain built for payments. Allbridge first announced the integration in January and is proud to deliver on its promise, adding XRPL as the 14th chain.
The latest integration allows Allbridge — which has processed more than $5.8 billion in transactions to date — to link XRPL with a number of EVM and non-EVM compatible chains, including Solana, Terra, NEAR Protocol, BNB Chain, Fantom, and more chains supported by Allbridge. Leveraging the XRPL’s native decentralized exchange (DEX) will also allow for the trading of leading stablecoins and DeFi tokens directly on XRP Ledger.
“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, co-founder and CEO of Allbridge.
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.
Together, Allbridge and Ripple are contributing to growing cross-chain interoperability as many in crypto build toward a multi-chain future.
Allbridge is a simple, modern, and reliable way to transfer assets between different networks. It is a bridge between both EVM and non-EVM compatible blockchains, that aims to cover L2 solutions and NFT transfers in the future.
Allbridge’s mission is to make the blockchain world borderless by providing a tool to freely move assets between various blockchains.
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. It’s long-term vision is to enable the Internet of Value, where the world moves value like information moves today. Through RippleX, the company 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.