Axelar, a blockchain interoperability project, said on Sunday it will integrate its network with layer-1 blockchain Stellar.
Axelar said the integration links the Stellar network, which specialises in payments and asset issuance, with Axelar’s interchain infrastructure. It said this creates a foundation to extend blockchain financial infrastructure designed with institutional use in mind into a multichain environment.
Axelar said the integration will connect the Stellar ecosystem to its interchain network. It said the link will provide network connectivity so Stellar-based assets can be used across multiple blockchains.
After the integration, Stellar developers and institutional participants will be able to use Axelar’s interchain messaging and token-connection infrastructure.
Use cases are also emerging after the integration announcement. Tokenised asset project Solv Protocol, digital asset payment infrastructure company Stronghold and cross-chain routing protocol Squid are implementing structures to expand cross-chain use of Stellar-based assets.
Chi-gyu Hwang
delight@d-today.co.kr