XRP Ledger Has Reached A Historic Milestone, XRPL-Avalanche Bridge Will Be Operational In August

The XRP Ledger has reached a historic milestone, according to XRPScan, as it has successfully closed the 72 millionth ledger. Micropayments, NFTs, DeFi, CBDCs, and other use cases are all covered by the XRP Ledger decentralized public blockchain.

Over 150 validators, owned by institutions, exchanges, businesses, and individuals, are currently operating on the ledger. XRPL employs a consensus protocol that assures that when the validator pool expands, the blockchain becomes more decentralized.

The XRP Ledger-Avalanche bridge will be operational in August

In a recent announcement, Apex, a true Node-as-a-Service provider, says it is building a fully insured bridge from Avalanche to the XRPL, which is scheduled to go live by the end of August 2022. Apex Bridge will allow XRP tokens to be transferred from the XRPL to Avalanche and other Ethereum Virtual Machine (EVM) networks.

Once the bridge is deployed, Apex will be opening up Wrapped XRP (wXRP) on ApexSwap, a first in the Avalanche ecosystem.

This comes as Multichain announced support for XRPL in March, allowing a cross-chain connection with EVM and non-EVM compatible blockchains. Hundreds of thousands of DeFi users will be able to easily transfer assets between the XRP Ledger and other blockchains.

Through this, Multichain will facilitate the cross-chain transfer of XRP, XRP Ledger’s native digital asset, with Ripple’s technical aid, thanks to its integration with XRP Ledger. Moreover, assets like ETH, MATIC, AVAX, FTM, USDT, USDC, FRAX and others will flow directly to the XRP Ledger.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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