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Expand.network launches API adapter to connect blockchains

Friday 9 June 2023 12:14 CET | News

Singapore-based Expand.network, an API service offering both read and write connectivity to major public blockchains and DeFi protocols has announced its official launch for public use.

 

The solution promises to save time and resources for blockchain developers and digital asset traders working in an increasingly multi-chain world. Under the status quo, developers need to work across multiple protocol APIs and SDKs in order to directly interact with each chain or protocol. Expand’s API infrastructure provides a one-stop shop for developers to make chain enquiries, trade preparations and conduct whatever transactions they want. Critically, users retain their private keys and never have to trust a third-party with their assets.

As representatives say, Expand is all about ease-of-use, security and versatility. By supporting DeFi protocols, such as decentralized exchanges, lend and borrow protocols, yield aggregators, oracles, as well as all major layer-1 and layer-2 chains, the platform could solve billion-dollar inefficiencies in the blockchain landscape.

Expand supports EVM-compatible chains including Ethereum, Binance Smart Chain, Avalanche, Polygon, Cronos, Arbitrum and Optimism as well as non-EVM-compatible chains like Solana, Tron, NEAR and Algorand.

 

Expand is the latest company to launch from Web3 incubator Cumberland Labs, who conceived of the product, and undertook the initial build, funding, resources, and consulting in support of the platform. The upcoming Expand release sees additional chain support for Aptos, Sui, Lido, LayerZero, and StarkNet, and additional DeFi protocols.

In February, Cumberland Labs launched Hashnote, the first fully regulated, institutional-grade investment management platform for DeFi. The addition of Expand continues the incubator’s goal of producing solutions-oriented startups with unprecedented offerings.

Merging forces

Blockchain interoperability has recently been recognized as an issue in the evolving world of crypto. That is also why Belgium-based Swift announced its partnership with crypto startup Chainlink and multiple other institutions to explore blockchain interoperability challenges.

Swift wants to engage in a series of trials to integrate with multiple public blockchains in collaboration with Chainlink and institutions such as ANZ Bank, BNP Paribas, BNY Mellon, Citi, Lloyds Bank, central securities depositaries Clearstream and Euroclear, as well as the DTCC and SIX Digital Exchange.

Company representatives put an emphasis on the highly fragmented blockchain ecosystem and observed the lack of feasibility for financial institutions to connect to every platform individually. Swift is working with the community to address this issue by developing an interoperability model that enables access to different platforms globally.

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Keywords: blockchain, DLT, API, DeFi
Categories: DeFi & Crypto & Web3
Companies: Expand.network
Countries: World
This article is part of category

DeFi & Crypto & Web3

Expand.network

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