Ripple, in collaboration with Wormhole, has announced an integration that will allow the XRP Ledger (XRPL) to connect with over 35 different blockchains.
Ripple and Wormhole Partnership
Ripple and Wormhole have unveiled plans to create multichain interoperability for XRPL, which will be implemented on both the main XRPL network and the XRPL EVM Sidechain. This partnership will allow over six million XRPL users to move their digital coins and tokens across multiple blockchain systems via a single integrated platform.
Integration Opportunities
According to a press release, the new integration will provide opportunities for developers and institutions to create multichain applications for payments, real-world assets, and DeFi, based on XRPL. Wormhole is already utilized by over 200 applications and has moved assets worth over $60 billion. "Interoperability is essential for mass adoption," said David Schwartz, Ripple's CTO.
XRPL Updates and Their Significance
The new setup will be rolled out in conjunction with RippleX’s latest update to XRP Ledger version 2.5.0, which includes new features such as batch transactions, token escrows, and permissioned DEXs. These features enhance XRPL’s flexibility, preparing it for institutional finance tools. Robinson Burkey, co-founder of Wormhole, noted that this will help unlock even greater potential for one of the most established blockchain networks in enterprise finance.
The partnership between Ripple and Wormhole offers new possibilities for XRPL, which may significantly influence the development of multichain applications and make interactions between various blockchains more accessible.
