Axelar and Ripple have announced a partnership to improve the interoperability of the XRP Ledger, positively impacting ETF application submission and token prices.
Axelar and Ripple Collaboration
Back in February, blockchain interoperability protocol Axelar and American fintech firm Ripple announced their partnership to enhance the interoperability of the XRP Ledger (XRPL). This will create seamless connectivity with numerous blockchain networks. Axelar's integration will further amplify XRPL's use cases, unlocking cross-chain applications and potentially boosting XRP adoption among developers and enterprises.
Axelar ETF Application
Notably, adding to the upbeat sentiment around Axelar, Canary Capital filed an S-1 registration with the United States Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tracking the Axelar (AXL) token.
Changes in Token Prices
Following the ETF filing, the AXL token increased by 14%, while XRP rose by 1.31% in 24 hours.
The Axelar and Ripple partnership highlights significant prospects for the development of the blockchain ecosystem, supported by positive market reactions, including increased token values for AXL and XRP.
