ChainCatcher news, according to TheBlock, the blockchain interoperability protocol Analog has completed a $5 million financing round, with participation from Gate Ventures, Foresight Ventures, Backerdao, and Black Label Ventures.The Analog blockchain interoperability protocol aims to connect different blockchains, allowing for seamless sharing of network information and assets, and has launched its mainnet last month.

ChainCatcher news, according to Chainwire, the blockchain interoperability protocol Hyperbridge has completed a $2.5 million seed round financing, led by Web3 Foundation and Scytale.It is reported that Hyperbridge is a cross-chain interoperability solution, and the protocol has also secured a parachain slot in the Polkadot ecosystem, reinforcing its commitment to deep integration and leveraging Polkadot's unique advantages.

ChainCatcher news, Binance Research has released a report on "The Road to One Billion On-Chain Users": The adoption rate of blockchain networks is significantly slower than that of social media networks, and decentralized systems are inherently more complex than centralized systems. Many blockchain projects are dedicated to creating decentralized alternatives for existing centralized products and services.The report studies three types of future users: institutions, retail investors, and cryptocurrency skeptics. For institutions, deep liquidity is required to execute trades effectively and efficiently with capital. The current multi-chain world results in liquidity being fragmented across multiple independent distributed ledgers and Layer 2s. The lack of blockchain interoperability also forces institutions to decide on adopting specific blockchain ecosystems. Meanwhile, chain abstraction has become an important development in bringing institutions on-chain.The report introduces the cross-chain interoperability protocol Axelar (AXL) as a case study, noting that Axelar (AXL) has achieved some initial success in collaborating with institutions to promote blockchain development: In November 2023, the Axelar (AXL) team successfully conducted a proof-of-concept collaboration with JPMorgan's blockchain platform Onyx, which utilized Axelar's cross-chain technology to achieve interoperability with private and permissioned blockchains.In May 2024, Deutsche Bank announced a partnership with Interop Labs, the team behind the Axelar (AXL) network project. Interop Labs will support Deutsche Bank's participation in the asset tokenization testing project led by the Monetary Authority of Singapore (MAS) — Project Guardian. Deutsche Bank aims to explore the capabilities of open architecture and interoperable blockchain platforms.

ChainCatcher news, according to The Block, blockchain interoperability developer Union Labs has completed a $4 million seed round financing, with participation from venture capital firms Galileo, Semantic Ventures, Tioga Capital, Nascent, Lightshift, and Chorus One. The funds will be used for hiring and scaling. Union Labs aims to develop a zero-knowledge proof-based cross-chain bridge.

ChainCatcher News, the Depository Trust & Clearing Corporation (DTCC) has partnered with Chainlink to develop a Swift blockchain interoperability project aimed at enabling the tokenized transfer of traditional financial assets. Swift utilizes Chainlink CCIP on the backend to facilitate cross-chain messaging and token transfers, while DTCC acts as the token issuer and central securities depository (CSD).Specifically, DTCC mints and issues "BondTokens" that are compatible with Chainlink CCIP and distributes them to the test wallets designated by Swift.

ChainCatcher news, according to TheBlock, Microsoft has partnered with the cryptocurrency interoperability project Axelar to jointly provide blockchain interoperability solutions. As part of the collaboration, Axelar's blockchain interoperability solutions will be made available to Microsoft customers through the Azure cloud marketplace. (Source link)

ChainCatcher news, the Society for Worldwide Interbank Financial Telecommunication (Swift) has announced that it is exploring blockchain interoperability to eliminate friction in the settlement of tokenized assets. Swift will collaborate with a dozen major financial institutions and FMIs, including Australia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon, Citigroup, Clearstream, Euroclear, Lloyds Banking Group, SIX Digital Exchange (SDX), and the Depository Trust & Clearing Corporation (DTCC), to test how companies can effectively guide the transfer of tokenized value across a range of public and private blockchains using its existing Swift infrastructure.The first use case of the trial will involve transferring tokenized assets between two wallets on the same public blockchain network (Ethereum Sepolia testnet).The second use case involves transferring tokenized assets from a public blockchain (Ethereum) to a permissioned blockchain.The third use case will test transferring tokenized assets from Ethereum to another public blockchain, where Chainlink will be used as an enterprise abstraction layer to securely connect the Swift network to the Ethereum Sepolia network, while Chainlink's Cross-Chain Interoperability Protocol (CCIP) will enable full interoperability between the source chain and the target blockchain. (Source link)

ChainCatcher news, Japan's largest bank, Mitsubishi UFJ Financial Group (MUFG), has completed a cross-blockchain trial using stablecoins to settle digital securities.The trial delivered a delivery versus payment (DvP) transaction using stablecoins issued on a program coin infrastructure based on the R3 Corda enterprise blockchain, with securities paid on a GoQuorum-permissioned blockchain. DataChain is an interoperability technology provider that utilized the Cosmos interoperability protocol IBC along with additional modules from DataChain's open-source project. (source link)

ChainCatcher news, the cross-chain interoperability project Sygma has announced the launch of its testnet. The Sygma testnet will support ERC20, ERC721, and general handlers to run on the Goerli (Ethereum), Mumbai (Polygon), and Moonbase Alpha (Moonbeam) networks. Participating developers will be able to integrate the Sygma SDK into their applications and perform the aforementioned actions. (Source link)

ChainCatcher news, the blockchain interoperability protocol Orb Labs announced the completion of a $4.5 million funding round, led by Bain Capital Crypto, with participation from Shima Capital, 6th Man Ventures, Aves Lair, Newman Capital, Modular Capital, and SevenX Ventures.Orb Labs plans to launch the cross-chain messaging protocol Earlybird, allowing developers to choose the most effective security model for their applications based on factors such as use case, cost, and speed. Orb Labs is also developing another product, MagicLane, which is an efficient, secure, and composable full-chain token and messaging platform built on Earlybird, providing developers with a shared security model that allows easy use of Earlybird without the need for complex security configurations. (source link)