Union Labs, a project focused on blockchain interoperability, plans to integrate with AggLayer, a decentralized service rolled out earlier this year by developer Polygon Labs that enables liquidity sharing between connected networks.
The deal is notable because it could deepen ties between Polygon, one of the largest Ethereum-scale networks, and the Cosmos blockchain ecosystem and its Inter-Blockchain Communication Protocol (IBC), the ecosystem of interconnected blockchains that Union has built on.
“The integration will enable greater access to liquidity and movement between AggLayer-connected chains and IBC-compatible chains, ensuring a reliable, efficient, low-latency process,” according to a press release.
Karel Kubat, founder of Union Labs, said the announcement “marked the commitment of both projects to address the siled nature of blockchains while maintaining sovereignty.”
Union Labs, which announced this was the case in November has raised $4 million and plans to launch the mainnet later this year.