The XRP Ledger and Cronos Chain have announced a strategic partnership with digital asset custodian Atato. With its ground-breaking Bring-Your-Own-Chain (BYOC) feature, the alliance hopes to have a major impact on the DeFi and GameFi industries while also enhancing the XRP Ledger’s position within the blockchain ecosystem.
With just one click, BYOC’s custody solution makes it simple to integrate with any blockchain. The ultimate objective is for a multitude of blockchains to coexist peacefully in the future, leading to their widespread adoption. Guillaume Le Saint, a co-founder of Atato, highlighted the rising desire from consumers to safeguard their tokens across several chains and manage them via a single, straightforward user interface. The growth of several Layer 1s, Layer 2s, and Subnets within different ecosystems has resulted in a notable increase in this need.
BYOC integration is intended to provide assistance to Web3 developers, startups, and small- to medium-sized enterprises (SMEs) associated with the Cronos, XRP Ledger, and other ecosystems. These entities have a shared goal of establishing a safe, compliant, and interoperable environment for nascent Web3 players. Furthermore, by utilizing Atato’s WalletConnect technology, this integration makes it simple for projects to connect to and utilize decentralized applications (dApps) across all blockchain networks. With the growing possibility of avoidable hacks, Atato stressed the significance of security right now.
Despite the decline in cryptocurrency this year, the XRP Ledger has continued to develop steadily. According to the most recent data, as of October 26th, there were more than 4.82 million wallets on XRPL, holding a total of 58 billion XRP. SBI Holdings, a major player in the Japanese financial industry, has revealed that it will begin its NFT endeavor on the XRPL in time for the next Osaka-Kansai Expo.