IOTA Announces Shimmer’s Partnership with Multichain to Boost Cross-chain Interoperability

IOTA, the open, feeless, and highly scalable distributed ledger technology (DLT) for the digital economy, has again joined forces with Multichain, the Web3 cross-chain infrastructure provider, in a new partnership.

This partnership, according to a latest press release, will have a profound impact on the IOTA ecosystem and community, enabling seamless interoperability between the IOTA and Shimmer networks. This will allow users to transfer Shimmer and IOTA tokens between the two networks after the upcoming launch of ShimmerEVM. This integration is crucial to bridging Shimmer and IOTA together to maximize mutual growth and success.

Read Also: IOTA Partners with Crypto Finance Group to Support Shimmer Network Token (SMR)

Following the launch of the ShimmerEVM testnet, users will now have a glimpse of the potential utility of Multichain. The test bridge facilitates smooth transfers between the ShimmerEVM testnets, ShimmerEVM, Ethereum, Fantom, and BSC testnets.

Furthermore, it’s announced that Multichain will support Shimmer with a cross-chain interoperability solution between the upcoming ShimmerEVM chain and supported blockchains in the Multichain ecosystem, enabling asset transfer and smart contract execution between multiple chains.

This integration is a major milestone and will contribute vastly to the growth of the Shimmer and IOTA ecosystem by providing a vivid cross-chain infrastructure that will open up access to decentralized finance on all major blockchain protocols supported by the Multichain router.

Read Also: Here’s How IOTA Is Building to Achieve a True Circular Economy: A DPP Underway

About Multichain

Launched in July 2020 as Anyswap, Multichain aims to cater to the needs of different and diverse blockchains by providing seamless interoperability solutions through their cross-chain bridge and router. In addition, Multichain’s smart contract function anyCall (a cross-chain messaging router protocol) enables cross-chain messaging and contract calling.

Multichain supports all ECDSA and EdDSA encrypted chains and is almost universally applicable as an interoperability layer.

With 56 supported EVM and non-EVM chains, and more than 2460 integrated projects, Multichain has established itself as an industry-leading cross-chain router protocol with a continuously expanding ecosystem.

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