Ripple's XRP Ledger will soon feature an EVM sidechain named "XRPL EVM sidechain," with Axelar (CRYPTO:AXL) selected as the exclusive bridge protocol.
This strategic move enables XRP (CRYPTO:XRP) holders to convert their tokens into Wrapped XRP (CRYPTO:WXRP), utilised as the native currency for transaction fees within the sidechain.
Ripple opted for Axelar over its previously proposed XLS-38 bridge, citing Axelar's simplicity and compatibility with major platforms like Uniswap (CRYPTO:UNI) and Microsoft.
The decision aims to streamline user experience and enhance security as Ripple continues to expand its blockchain capabilities, including the upcoming launch of a dollar-pegged stablecoin on XRPL and Ethereum (CRYPTO:ETH).