Solana Expands into XRP Ledger DEX via Axelar

Solana has expanded its reach into the XRP Ledger's native decentralized exchange (DEX) thanks to Axelar, an interoperability network that connects different blockchain ecosystems. The wrapped SOL asset issued by Axelar is now tradable on XPMarket and other interfaces that connect to XRPL's infrastructure.

The development builds on Axelar's June 3 integration of Solana mainnet, which enabled cross-chain messaging and asset transfers between the two chains. This interoperability has already moved in the opposite direction, with wrapped XRP expanding onto Solana through Hex Trust and LayerZero.

XRPL Foundation director Hussein Zangana warned users to beware of copycat assets, as tokens on XRPL are identified by both their currency code and issuer account, rather than a ticker alone. Axelar is currently the only legitimate issuer of wrapped SOL on XRPL, and users should verify the issuer address before creating a trust line or executing a trade.