NEW YORK--(BUSINESS WIRE)--Axelar announced today that Coinbase Cloud will provide its market-leading staking and validation services for AXL, the native token of the Axelar blockchain. Officially launched to the public on September 27, 2022, AXL powers the Axelar network with essential network security, decentralization, and longevity, and will drive sustained growth for Axelar’s ecosystem.
Coinbase Cloud will join a list of top-tier validators supporting the Axelar network. AXL tokenholders will be able to stake AXL to Coinbase Cloud’s public validator, and help secure a network that is building the cross-chain future.
Coinbase Cloud simplifies the process of interacting with blockchains and provides enterprises, institutions, and individual token holders with staking and validation services optimized for security and ease of use.
With Coinbase Cloud’s reliable infrastructure Axelar’s token holders and investors may safely stake and earn rewards on their AXL tokens.
Combined with AXL, Coinbase Cloud expands opportunities for institutions and token holders to engage with the Axelar ecosystem.
Axelar delivers secure cross-chain communication, enabling dApp users to interact with any asset or application, on any chain, with one click. In a nutshell, Axelar is for Web3 what Stripe is for mobile and internet applications. Axelar has raised capital from top-tier investors, including Dragonfly Capital, Polychain Capital, Coinbase, and Binance. Partners include major proof-of-stake blockchains, such as Avalanche, Cosmos, Ethereum, Polkadot, and others. Axelar’s co-founders, Sergey Gorbunov and Georgios Vlachos, were founding team members at Algorand.