Axelar Launches ‚Interchain Token Service‘: Unlock Cross-Chain Fungibility Now!

• Axelar has launched Interchain Token Service, a product suite that enables ERC-20 interoperability across multiple blockchains.
• Sushi is among the first deployment partners to use this service, allowing seamless cross-chain fungibility and functionality for their native token, SUSHI.
• Interchain Token Service provides smart contracts and developer tools to automate complex tasks and make it easy to manage supply and features of custom tokens.

Axelar Launches ‘Interchain Token Service’

Axelar, the blockchain interoperability leader, is announcing the launch of Interchain Token Service (ITS), a product suite that extends tokens cross-chain, preserving their native functionality and allowing teams to easily manage supply and features.

Interoperability Across Multiple Chains

ERC-20 tokens have unlocked powerful interoperability between Ethereum-based applications. In a similar way, Interchain Token Service creates Interchain Tokens that unlock new possibilities for interconnected applications spanning all EVM-compatible ecosystems.

Sushi Deploys Interchain Tokens

Sushi, the popular decentralized exchange (DEX) & automated market maker (AMM), is among the first deployment partners to embrace Interchain Tokens. This will give SUSHI, its native token, seamless interoperability across multiple chains such as Arbitrum, Ethereum, Optimism and Polygon.

Benefits of Interchange Token Service

Interchange Token Service delivers: Fungibility – Wrapped versions on connected chains are fungible with one another; Custom Functionality – Custom tokens keep their features cross-chain; Low Overhead – Smart contracts and developer tools automate complex developer tasks.

Conclusion

With the launch of Axelar’s ‚Interchange Token Service‘, teams can now easily manage supply and features for custom tokens while providing seamless interoperability across multiple blockchains.