Axelar integrates networks with Hedera…expanding multichain reach

Bloomingbit Newsroom

Summary

Axelar (AXL) said it has integrated its network with the layer-1 network Hedera (HBAR).
With the integration, Hedera-based assets can now be issued, moved and utilized in a multichain environment, it said.
SaucerSwap and Squid were said to be linking external-chain assets to the Hedera ecosystem.

Axelar (AXL), a global blockchain interoperability network, said on the 25th that it has integrated its network with the layer-1 network Hedera (HBAR). Hedera is a blockchain that runs a council-based governance model backed by global companies including Google, IBM, LG Electronics, Shinhan Bank and Nomura.

With the integration, the Hedera network has been connected to Axelar’s interchain infrastructure. As a result, Hedera-based assets can now be issued, moved and utilized in a multichain environment.

Specifically, Axelar will serve to link Hedera to dozens of blockchains through its interoperability infrastructure. Hedera developers and institutional participants will be able to use Axelar’s interchain messaging and token transfer capabilities. The company said cross-chain asset transfers and smart-contract calls are supported, expanding utility within a multichain environment.

Hedera-based decentralized exchange SaucerSwap and cross-chain routing protocol Squid, among others, are reported to be applying related features to connect external chain assets to the Hedera ecosystem.

AXL

HBAR