Multichain Integrates XRP For Cross Chain Compatibility
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March 22, 2022 7:02 pm
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It is no secret that XRP is positioning itself to be the global leader in cross border liquidity payments…
However, cross border payments are simply one aspect of blockchain technology and cryptocurrencies. In all likelihood the future will be a multi-chain one, with different cryptos and blockchains for different problems.
David Schwartz explains the significance of this in one of his recent videos:
Trending: Ripple Spells Out Penalty Terms To SEC
The need for cross-platform interoperability is integral to both the success of XRP as a multi-use ledger, and to bring even greater relevancy to its cross-border payment platform.
Recognizing this, Multichain—formerly known as Anyswap, has integrated XRP to connect with both EVM compatible and non-EVM compatible blockchains.
Bitcoinist provided more information on Anyswap:
Formerly known as Anyswap, and later rebranded as Multichain, this cross-chain bridge allows different blockchains to connect and send transactions with each other. Users can leverage this solution to send an asset on a blockchain, such as XRP, to a second network.
Currently, Multichain supports around 40 networks and records $200 million in daily transaction volume, with a total, valued locked (TVL) standing at $6 billion.
#XRP will be utilized more and more for cross chain interoperability between other blockchains and the #XRPL
— XRPcryptowolf (@XRPcryptowolf) March 22, 2022
Multichain had the official scoop through a recent press release:
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.
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