Ripple Labs has announced the launch of the XRPL EVM sidechain, aimed at enhancing interoperability between multiple blockchains by integrating Ethereum Virtual Machine (EVM) compatibility into the XRP Ledger.

This initiative responds to developer requests for cross-chain functionality and aims to expand opportunities in decentralized finance (DeFi) and real-world asset tokenization.

The XRPL EVM sidechain will connect to the mainnet via the Axelar bridge, chosen for its security and ability to support over 55 blockchain networks.

Ripple's broader vision includes facilitating institutional DeFi on the XRPL with foundational elements like automated market makers and decentralized identifiers.