Ripple Labs has announced a new partnership with Wormhole, a cross-chain interoperability protocol, to integrate multichain interoperability into XRP Ledger (XRPL). The goal is to enhance the upcoming XRPL EVM sidechain, which would provide options to developers and institutions alike.
XRPL EVM sidechain gets multichain upgrade
In a post to the community, Ripple clarified that the partnership will facilitate easier interaction between XRPL and its EVM sidechain and other blockchains. This implies that developers can proceed to build apps that span several blockchains.
Additionally, it will facilitate easy payments between cross-chain decentralized finance (DeFi) and real-world assets (RWAs) and XRPL, as well as other ecosystems. Meanwhile, the integration will also allow institutions to explore more flexible and scalable solutions using XRPL.
Ripple’s partnership with Wormhole is significant, as it will help unlock the different silos in which blockchains operate. It enhances interoperability and strengthens Ripple’s position not just in payments but in DeFi and Web3 infrastructure.
Interestingly, the partnership announcement has sparked mixed reactions on social media platform, X. Many have applauded the move, noting that it would expand the reach of the community as the future of decentralization is being formed.
However, other users remain anxious about the inability of Ripple and the U.S. Securities and Exchange Commission (SEC) to resolve the lawsuit entirely.
What’s next for Ripple?
You Might Also Like
As reported by U.Today, Judge Analisa Torres stunned the Ripple community when she denied a motion for an indicative ruling filed by both parties in the lawsuit. According to the court, it is not convinced of the arguments to modify the final judgment.
Judge Torres maintained that the court is to serve the interest of all, including the public, not just Ripple and the SEC. She emphasized that it was wrong to allow both parties to undo the final court judgment.
