Ripple to use Axelar as bridge protocol for EVM sidechain

XRP -0.28% Ledger, the blockchain network backed by the payments firm Ripple, revealed the official name of its upcoming sidechain, calling it the “XRPL EVM sidechain,” and stated that it would launch with Axelar serving as the exclusive bridge protocol.

The interoperability platform Axelar will allow users to swap their XRP into wrapped XRP (eXRP), which will also be used as the native token for gas fees on the sidechain.

Ripple said that using Axelar would “simplify” the user experience and enhance security, and went on to praise Axelar’s track record and integrations with major projects like Uniswap and Microsoft . 

By shifting to Axelar, Ripple is moving away from its proposed XLS-38 cross-chain bridge, stating that the current process with XLS-38 is “arduous.”

“Using two different bridges—XLS-38 for XRP and Axelar for other tokens and for executing cross-chain smart contracts—complicates the user journey. By consolidating to a single bridge, the process becomes simplified, making it more intuitive and user-friendly,” Ripple added.

This comes a day after the firm unveiled a new fund set to foster development on its blockchain in Japan and Korea, as part of its 1 billion XRP commitment to developers building on XRPL. Two months ago, Ripple also announced its upcoming dollar-pegged stablecoin, set to launch on the XRP Ledger and Ethereum later this year.

At the ongoing XRP Ledger Apex event in Amsterdam, Ripple CEO Brad Garlinghouse stated that the ticker of Ripple’s new stablecoin is RLUSD — for “Real USD.”