Axelar will integrate its blockchain interoperability project with the layer-1 blockchain Stellar, it said on Sunday. Axelar said the integration will connect Stellar’s network, which is focused on payments and asset issuance, to Axelar’s interchain infrastructure. It said this will create a foundation to expand blockchain financial infrastructure designed for institutional use into a multichain environment. Axelar said the integration will provide connectivity so Stellar-based assets can be used across multiple blockchains.

The cryptocurrency industry emphasises decentralisation, but transferring value between blockchains is influenced by a small number of centralised intermediaries, an industry executive warned. Michael Steuer, president and CTO of Casper Network, said interoperability should be addressed from a user-experience perspective rather than as a technical issue. He said moving assets across chains requires complex checks and carries the risk of permanent loss, while bridges are a prime hacking target and reinforce centralisation.