Axelar announces integration with Polygon following $25m funding round

6th August 2021- Axelar has teamed up with Polygon – the leading Ethereum scaling network – in an integration that will allow users of Polygon to leverage assets from external blockchain networks, and increase liquidity between ecosystems.

Axelar is a decentralised interoperability network that connects blockchain ecosystems, applications and users, and this announcement comes just weeks after Axelar raised $25m in a Series A funding round led by Olaf Carlson-Wee’s Polychain Capital.

The funding raised is being used to scale the network’s key integrations and to expand Axelar’s developer team amid a period of rapid growth for the start-up.

Jayanti Kanani, co-founder and CEO of Polygon (Matic), highlighted the way in which Axelar is targeting the important future of interoperability in blockchain and DeFi.

“There are many exciting developments taking place within the blockchain domain at the moment and we believe it is essential to have cross-chain interoperability to take full advantage of these opportunities,” he said.

“Axelar has a very unique approach to interoperability, by providing easy connectivity, high security and robustness to its infrastructure.

“Integrating Polygon with Axelar is an important step towards creating a fully interoperable future for blockchain and we’re looking forward to witnessing how our users make the most of the integration.”

Axelar’s interoperability protocol is decentralised, highly secure, universally adoptable, and designed explicitly to connect all blockchain ecosystems that speak different languages. This enables developers to build on any blockchain platform, while leveraging global cross-chain liquidity through the Axelar Network.

While Axelar Network is currently live in a test net, Polygon is the latest in a wide range of early adopters of Axelar’s technology stack including Polkadot, Terra and Avalanche, all in tandem with the successful $25m funding round.

###

About Axelar

Axelar is building a decentralized network and tools that connect users, assets, and dApp across multiple blockchain ecosystems. The network empowers developers to build on the best platform for their needs while leveraging the Axelar stack to unlock cross-chain composability and liquidity. Axelar Network consists of a protocol suite, tools, and APIs, designed to break down the barriers to cross-chain communication. Powered by a decentralized open network of validators, anyone can join the network, use it and build on it. The Axelar Network provides a uniform solution to cross-chain communication, allowing dApps to integrate with the full blockchain ecosystem. Developed by the founding team members of Algorand, Axelar’s co-founders are award-winning graduates of MIT and their team, where they received notable recognition as part of their graduate studies.