Ripple, in partnership with Peersyst and Axelar, has launched the new XRPL EVM Sidechain, enabling developers to build or migrate Ethereum-based dApps into the XRP ecosystem.
The sidechain leverages Evmos software for full EVM support, allowing applications like lending, tokenization, and payments with low fees and high-speed transactions on the XRP ledger.
Axelar's bridge connects the sidechain to XRPL's mainnet, facilitating cross-chain transfers including wrapped XRP as the gas token for the EVM chain.
The launch is seen as a step towards full interoperability, with DeFi players like Band Protocol and upcoming dApps expected to go live on the XRPL EVM Sidechain, positioning it as a major hub in the multichain DeFi landscape.