Canary Funds has announced the launch of an Axelar (AXL) Trust, providing institutional investors with access to the Axelar network’s native token, AXL. The initiative was announced by crypto journalist Eleanor Terrett, highlighting Axelar’s growing role in cross-chain interoperability.
According to Terrett, Axelar has established itself as a leading cross-chain protocol that facilitates seamless blockchain connectivity. The protocol is working closely with Ripple to support RLUSD stablecoin interoperability, bridging digital asset ecosystems.
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One of Axelar’s core functions is to connect the XRP ($2.67) Ledger with the XRP Ledger EVM, an Ethereum-compatible network. Axelar enables cross-chain transactions, increasing interoperability across major Web3 ecosystems including Hedera, Stellar, TON, Sui, Solana, and Bitcoin.
The newly formed AXL Trust is designed to attract institutional investors looking to participate in blockchain infrastructure projects that enable Web3 adoption.
*This is not investment advice.
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