Ripple to develop EVM XRP Ledger sidechain

Crypto company Ripple has entered into a partnership with evmOS.

According to a post on Cosmos’ blog, Ripple and evmOS are collaborating to develop the Ethereum Virtual Machine (EVM) XRP Ledger (XRPL) sidechain based on evmOS technology.

💥 @Fluctuation & @EvmosOrg We joined forces to create the XRP Ledger EVM sidechain!

To be built with sidechain #evmOS – A production-ready modular solution leveraging Cosmos SDK, IBC and CometBFT to bring EVM compatibility to Web3 businesses.

The future of XRPL #interchain pic.twitter.com/VEOO8dawlh

— Cosmos – Interchain ⚛️ (@cosmos) May 14, 2024

The sidechain will be built using evmOS, an out-of-the-box modular solution that uses Cosmos and CometBFT to provide EVM compatibility to web3 companies.

The Cosmos announcement also notes that bringing the XRP Ledger cross-chain means connecting a large community of users, decentralized applications (dapps), and liquidity to a network of more than 90 interconnected networks.

“The XRPL community now gains a passport to all Cosmos SDK chains, allowing its users to seamlessly interact with all the applications they need.”

cosmos team

Using Osmosis as an example, although Osmosis is not an EVM-compatible network, XRPL users can exchange assets with Osmosis in a single transaction without switching wallets or connecting to different chains.

Ripple previously joined Swirlds Labs and the Algorand Foundation as a founding member of the DeRec Alliance. The initiative aims to simplify the adoption and recovery of digital assets.

Originally launched by ecosystem members Hedera and Algorand, Ripple and its division XRPL Labs have since joined as members of the Technical Oversight Committee for two years.