Wormhole, a cross-chain bridge protocol and interoperability platform has been signing big institutional contracts in recent months. Since launching, the platform has further extended its interoperability and capabilities to serve both Web2 and Web3 companies. The recent integrations with Stacks, BackPack, Mayan Finance, and Reactor by Ripple Labs have only added to Wormhole’s growing reputation as the leader in interoperability within the blockchain arena.
Wormhole is an established cross-chain messaging protocol that enables communication and asset transfer between multiple blockchain networks. The platform’s native token, $W, is currently the 216th largest crypto asset by market cap. At its latest valuation of just under $320 million. The $W token has been riding a wave of liquidity and attention lately, aided in no small part by a recent listing on Coinbase. This listing has served as the trigger for what hopefully will be an upward trend in its value.
Recent deals highlight Wormhole's growing influence. Stacks, the Bitcoin Layer-2 protocol, revealed its integration with Wormhole. So too have BackPack, the decentralized wallet and exchange platform, and Mayan Finance, the multi-chain DeFi platform. Ripple Labs also recently announced plans to integrate Wormhole onto its XRP Ledger and its EVM-compatible sidechain.
Wormhole aims to be a full-spectrum Web3 infrastructure and application company. Founded in 2013, its team is made up of crypto experts who have been working with Bitcoin since its inception. The platform is open to interoperability and actively creates strategic partnerships. This initiative lays the groundwork for the ODM to further grow and shape the developing blockchain environment.
