Canary Funds announced the launch of an Axelar (AXL) Trust, providing institutional investors with access to the native token AXL of the Axelar network. The initiative was disclosed by crypto journalist Eleanor Terrett, emphasizing Axelar’s increasing role in cross-chain interoperability.
According to Terrett, Axelar has proven itself as a leading cross-chain protocol that facilitates seamless blockchain interoperability. The protocol takes on the role of bridging digital asset ecosystems by closely collaborating with Ripple to support the interoperability of RLUSD stablecoin.
One of Axelar’s core functions is to interconnect the XRP Ledger with Ethereum-compatible network XRP Ledger EVM. Axelar enhances interoperability in major Web3 ecosystems, including Hedera, Stellar, TON, Sui, Solana, and Bitcoin, by enabling cross-chain transactions.
The newly established AXL Trust is designed to attract institutional investors who want to participate in blockchain infrastructure projects that enable the adoption of Web3.
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