Ripple-backed XRP Ledger launches EVM-compatible sidechain to unlock cross-chain DeFi

Discover key highlights within the Altcoin area. This article dives into: “Ripple-backed XRP Ledger launches EVM-compatible sidechain to unlock cross-chain DeFi”.

Key Takeaways

• The XRP Ledger launched an EVM-compatible sidechain to allow Ethereum-based smart contracts and cross-chain DeFi.
• The sidechain makes use of XRP as its gasoline token, connects by way of Axelar bridge, and is supported by companions like Band Protocol, Grove, and Wormhole.

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Ripple-backed XRP Ledger has rolled out its EVM-compatible sidechain, empowering Ethereum-based smart contracts and cross-chain decentralized finance (DeFi) capabilities throughout the XRPL ecosystem, in response to a Monday press launch.

The XRPL EVM Sidechain, developed in collaboration with Peersyst and the broader XRPL ecosystem, connects to the XRP Ledger by way of an Axelar bridge, which hyperlinks to over 80 blockchains. The sidechain makes use of XRP as its native gasoline token and integrates with Squid because the official cross-chain switch interface.

“The XRPL EVM Sidechain introduces a flexible environment for developers to deploy EVM-based applications, while maintaining a connection to the XRPL’s efficiency. It extends the capabilities of the ecosystem without changing the fundamentals that make the XRPL reliable,” stated David Schwartz, CTO of Ripple and Co-creator of the XRP Ledger.

The sidechain provides a number of key options, together with entry to over 6 million XRPL wallet holders, sooner block instances in comparison with Ethereum, low transaction prices, and a validator community comprising greater than 25 firms.

“Crypto is entering an exciting phase as institutions and enterprises are pursuing compelling new use cases. The XRP Ledger EVM Sidechain is positioned to capture this rising demand, and Axelar is the secure, institutional-grade connector that will make it possible,” stated Georgios Vlachos, director at Axelar Foundation and co-founder of the Axelar protocol.

The platform has already attracted numerous companions, together with Band Protocol for oracle providers, Grove for public RPC endpoints, and upcoming DeFi purposes from Strobe, Securd, and Vertex. Wormhole, which helps over 200 purposes throughout 35+ blockchain ecosystems, is about to combine with the sidechain.

Schwartz first revealed that XRPL deliberate to launch an EVM sidechain in Q2 2025 at Singapore’s Apex 2025 occasion.

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