XRP News Today: Ripple Launches Permissioned DEX and EVM Sidechain for Institutional Use

Ripple has introduced a new feature on its XRP Ledger (XRPL) blockchain network, specifically designed for institutional use: a “Permissioned Decentralized Exchange (DEX).” This development is part of Ripple's ongoing efforts to enhance the functionality and compliance of its blockchain network. The Permissioned DEX allows regulated players to trade on the XRPL DEX using verified credentials, enabling KYC-compliant transactions. This feature is expected to attract institutional investors who require regulatory compliance and security in their trading activities.

The launch of the Permissioned DEX is a significant milestone for the XRP Ledger, as it integrates compliance and decentralization to facilitate real-world applications. This move is part of a broader strategy to expand the XRP Ledger's capabilities, making it more attractive to institutional investors and developers. The Permissioned DEX is designed to provide a secure and compliant trading environment, which is crucial for institutional adoption.

In addition to the Permissioned DEX, the XRP Ledger has also launched its Ethereum Virtual Machine (EVM) sidechain. This sidechain supports Ethereum-compatible smart contracts, expanding the XRP Ledger's cross-chain DeFi capabilities. The EVM sidechain is connected to the XRP Ledger via an Axelar bridge, a leading bridge protocol that connects over 80 blockchains. This integration allows for seamless cross-chain asset transfers and enhances the interoperability of the XRP Ledger ecosystem.

The EVM sidechain introduces a flexible environment for developers to deploy EVM-based applications while maintaining a connection to the XRP Ledger's efficiency. It extends the capabilities of the ecosystem without changing the fundamentals that make the XRP Ledger reliable. Developers can now build, port, and deploy cross-chain and EVM-only dApps, tapping into the XRP Ledger's deep liquidity and operational stability.

The launch of the EVM sidechain is a significant milestone for the XRP Ledger, as it brings general-purpose smart contract capabilities to one of the most secure and scalable ecosystems in the industry. This development is expected to attract more developers and projects to the XRP Ledger, further expanding its ecosystem and utility.

The Permissioned DEX and EVM sidechain are part of Ripple's broader strategy to enhance the XRP Ledger's capabilities and attract institutional investors. These developments are expected to drive the adoption of the XRP Ledger and expand its use cases in the DeFi space. The integration of compliance and decentralization in the Permissioned DEX, along with the EVM sidechain's support for Ethereum-compatible smart contracts, positions the XRP Ledger as a leading blockchain network for institutional use.