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Home Crypto News Market Ripple’s XRP Ledger Joins Allbridge Network to Enable Cross-Chain Transfer of XRPL...

Ripple’s XRP Ledger Joins Allbridge Network to Enable Cross-Chain Transfer of XRPL Tokens to Solana, Binance, and Others 

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Ripple’s XRP Ledger Joins Allbridge Network to Enable Cross-Chain Transfer of XRPL Tokens.



Allbridge, a digital platform that allows the transfer of cryptocurrencies between multiple chains, has announced that it has added support for Ripple’s XRP Ledger (XRPL). 

 

Following recent developments, Allbridge noted in an announcement that XRPL has become the 14th blockchain it will be integrating into its platform. 

Some of the supported Allbridge’s blockchains include Solana, Terra, NEAR Protocol, and Binance Smart Chain (BSC).  

With the addition of XRPL, Allbridge can conveniently link crypto assets on the Ripple network with other Ethereum Virtual Machine (EVM) compatible and non-EVM compatible chains that are supported on the network and vice versa. 

The development comes three months after Allbridge disclosed that it would be integrating support for Ripple’s XRP Ledger. 

Commenting on the development, Andriy Velykyy, co-founder and CEO of Allbridge, said: 

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.” 

Velykyy added that the integration of XRPL to the project’s ecosystem has made Allbridge become the “first bridge to connect XRP Ledger with the expansive DeFi ecosystem.” 

More Tokens to Join XRPL This Quarter

Allbridge noted that it plans on bringing more cryptocurrency assets to Ripple’s XRPL by the second quarter of 2022, and it has already commenced this groundbreaking effort by adding SOLO, a digital currency in the Sologenic ecosystem. 

According to Allbridge, the integration was possible through the technical support it received from the Ripple team, adding:  

“Together, Allbridge and Ripple are contributing to growing cross-chain interoperability as many in crypto build toward a multi-chain future.” 

Development of Cross-chain Bridge

During the early days of cryptocurrencies, it was near impossible to move cryptocurrencies between chains. 

Interestingly, several projects like Allbridge and Terra, had embarked on developing solutions to enable a borderless economy by developing solutions to easily transfer cryptocurrencies from one chain to another. 

Meanwhile, Crypto Basic reported that Terra recently announced that its cross-chain Bridge network has added support for Solana, Avalanche, Polkadot, etc. 

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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