Allbridge has integrated with the Tezos blockchain in a bid to provide cross-chain interoperability functions.
Allbridge, a cross-chain bridge platform, announced that it has integrated with the open-source, energy-efficient Tezos blockchain. The team revealed that the cross-chain bridge is a mutual collaboration between the Allbridge and MadFish.Solutions teams.
According to the press release shared with Coinjournal, this latest cryptocurrency news means that 16 blockchains will be integrated with Tezos. Thus, bringing more liquidity to its ecosystem.
When the cross-chain bridge launches, users can bridge some tokens to Tezos, and they will be available on the QuipuSwap decentralised exchange (DEX). These tokens include; USDC from Polygon, BUSD from BNB Chain, and the ABR token from 15 blockchains
Allbridge added that it intends to expand BTC, ETH, SOL, NEAR, AVAX, USDC, USDT, and many more tokens and stablecoins from other chains on Tezos in the future.
While commenting on this latest development, Andriy Velykyy, co-founder and CEO of Allbridge, said;
“Tezos is a blockchain with a proven track record with an expansive ecosystem of DeFi and NFT projects and a unique on-chain governance mechanism. Our integration with Tezos is a special collaboration with a partner team. Together with our friends from MadFish.Solutions we bring Tezos community access to 16 different chains and provide a gateway for them to join Tezos via QuipuSwap DEX.”
The Tezos ecosystem has become one of the most active in the crypto space, comprising builders and creators leveraging easy-to-use developer tools to build powerful applications for the ecosystem of decentralised applications (dApps).
Tezos is one of the first blockchains to adopt the proof-of-stake consensus method. The network has evolved into an increasingly popular alternative to several major POW-based options.
Furthermore, Tezos has become of the leading ecosystems for thriving NFT marketplaces, dApps, tools, and games that offer a wide variety of digital assets with very attractive and affordable fees.
Last month, Tezos-based NFTs became available on the popular ecommerce platform Shopify.
Allbridge is a simple, modern, and reliable way to transfer assets between different networks. It is a bridge between both EVM and non-EVM compatible blockchains.
Meanwhile, Tezos is smart money, redefining what it means to hold and exchange value in a digitally connected world.
Finally, QuipuSwap is an open-source protocol that provides an interface for the seamless decentralized exchange of Tezos-based Tokens and farming features.