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Ripple President Hails Landmark Development For XRP Ledger, Here’s Why

Ripple President Monica Long hails the integration with Axelar Network, marking a landmark development for XRP Ledger's capabilities.
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Ripple President Hails Landmark Development For XRP Ledger, Here’s Why

Highlights

  • Ripple President and other executives praise integration with Axelar Network for XRPL.
  • The collaboration aims to enhance XRPL's capabilities in blockchain interoperability and connectivity.
  • Axelar Foundation's partnership signifies a significant stride towards cross-chain decentralized applications.

Ripple’s integration with Axelar Network has garnered praise from Ripple executives, which includes President Monica Long and RippleX SVP Markus Infanger. Notably, the partnership was also lauded by the XRP community, as it aims to enhance the XRPL’s capabilities in the blockchain space. In other words, this collaboration signifies a major stride towards enhancing blockchain interoperability, opening new avenues for cross-chain connectivity and functionality.

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Ripple President & Other Execs Embraces Axelar Network

Monica Long, Ripple’s President, expressed excitement over the integration of Axelar Network with the XRP Ledger (XRPL). She highlighted the manifold benefits of this integration, including facilitating cross-chain decentralized applications (dApps) on the XRPL, providing liquidity for various assets, and expanding XRPL’s features across multiple blockchains.

On the other hand, Markus Infanger, RippleX SVP, echoed Long’s sentiments, emphasizing the significance of Axelar Foundation’s partnership in enriching XRPL’s capabilities. Notably, he emphasized the shared vision of Ripple and Axelar in creating a seamlessly interconnected blockchain ecosystem, promoting greater interoperability and connectivity.

Meanwhile, Axelar Foundation’s collaboration with Ripple marks a pivotal moment in advancing blockchain interoperability. Through this partnership, as announced by RippleX in a recent blog post, Axelar aims to extend XRPL’s interoperability to over 55 connected blockchains, leveraging its General Message Passing (GMP) feature for enhanced decentralized finance (DeFi) capabilities.

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Strategic Collaboration With Axelar Foundation

Axelar’s security framework, rooted in permissionless proof-of-stake validation and risk-mitigation layers, ensures secure asset transfers across diverse blockchains. By integrating with XRPL, Axelar enhances cross-chain scalability, fostering innovation and accessibility within the blockchain ecosystem.

Meanwhile, Ripple’s Chief Technology Officer, David Schwartz, emphasized the transformative potential of enhanced blockchain interoperability, particularly in driving innovation within DeFi. Besides, he lauded Axelar’s market-leading expertise in integrating diverse consensus mechanisms, enabling seamless user experiences across blockchain networks.

Simultaneously, Georgios Vlachos, co-founder of Axelar Network, underscored the significance of connecting XRPL to Axelar’s network, expanding the realm of Web3 interoperability. He emphasized Axelar’s commitment to fostering a more interconnected blockchain ecosystem, leveraging Ripple’s XRPL to drive multi-chain innovation.

Meanwhile, the integration of Axelar Network with Ripple’s XRPL marks a significant milestone in the evolution of blockchain interoperability. By bridging connections between XRPL and diverse blockchain networks, this collaboration paves the way for enhanced functionality, scalability, and innovation within the blockchain ecosystem.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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