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Sunday, July 14, 2024

Atato Forms Strategic Integration with Cronos Chain and XRP Ledger for Digital Asset Custody

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Digital asset custodian Atato announced a strategic integration with Cronos Chain and the XRP Ledger. The main objective of the partnership is to make a substantial influence through its innovative Bring-Your-Own-Chain (BYOC) feature.

The integration is expected to boost both the DeFi and GameFi sectors while simultaneously strengthening the XRP Ledger’s (XRPL) role in the blockchain ecosystem.

Atato’s Integration with Cronos Chain and XRP Ledger

BYOC is a custody solution that facilitates the easy integration of any blockchain with just a single click. The broader goal is a future where multiple blockchains coexist seamlessly, ultimately driving widespread adoption, according to the official announcement shared with CryptoPotato.

Commenting on the development, Atato’s Co-founder, Guillaume Le Saint, highlighted the growing demand for users to secure their tokens over multiple chains and control them through one simple user interface. The exec added that this demand has surged notably with the proliferation of several Layer 1s, Layer 2s, and Subnets within various ecosystems.

“Thanks to Atato’s ‘Bring Your Own Chain’ feature, we enable any project, venture fund, or institution to effortlessly add support for any blockchain and any token with a single click, a capability that was previously beyond reach.”

The platform noted that the BYOC integration is designed to offer support to Web3 developers, startups, and small to medium-sized enterprises (SMEs) affiliated with the XRP Ledger, Cronos ecosystems, and other ecosystems, all sharing a common vision to creating a secure, interoperable, and compliant environment for emerging Web3 participants.

Furthermore, this integration also enables projects to easily connect and utilize decentralized applications (dApps) across all blockchain networks using Atato’s WalletConnect feature. Given the rising threat of preventable hacks, emphasizing security from the outset is imperative, Atato said in its press release.

XRPL Growth

XRP Ledger has managed to maintain steady growth despite the drawdown in crypto this year.

The latest data revealed that the wallet count on XRPL has climbed above 4.82 million as of October 26th. There are more than 58 billion in XRP in total in these accounts. On the other hand, accounts with zero XRP balance stood at a mere 1,188.

Meanwhile, Japanese financial powerhouse SBI Holdings has announced that it would launch its NFT initiative on the XRPL for the upcoming Osaka-Kansai Expo.

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