Newscrypto Announces Collaboration With Polygon To Create A Compatible Bridge Between Polygon And The Stellar Ecosystem

Today, Newscrypto is trading at $0.9522 and it jumped 9.80% in the last 24 hours. Recently, Newscrypto stated that it will collaborate with Polygon to develop a compatible bridge that connects the Polygon blockchain to the Stellar ecosystem. Newscrypto will develop XLM wrapped tokens (WXLM) compatible with the DeFi Polygon platform, according to the release; this will be the first Star Polygon bridge. It’s worth noting that Newscrypto NWC’s own coin was first released on the Stellar blockchain, making them a good choice for building a bridge.

Innovators prefer scalable Layer-2 alternatives to Ethereum and other Layer-1 blockchains, which is why the DeFi Polygon ecosystem is growing in prominence. Polygon and Newscrypto’s collaboration is expected to boost liquidity on the expanding Layer-2 definition platform. Newscrypto has already obtained a grant from Polygon to construct an advanced and low-cost bridge, according to the release. It’s also worth noting that the bridge will allow for almost instantaneous transactions between the Polygon and Stellar blockchains.