Blockchain Interoperability Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to blockchain interoperability market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Blockchain Interoperability Market News

in Blockchain Interoperability Market
  • In October 2024, the Canton Network, developed by a consortium including Goldman Sachs and Microsoft, successfully piloted the tokenization of gilts, eurobonds, and gold. This project brought to light the network's capacity to support interoperable and secure transactions across various financial assets, driving the advancement of blockchain technology in conventional financial markets.
  • In November 2024, Hydra X, a regulated crypto custodian based in Singapore, became the first to offer custody services for Canton Coin in the Asia-Pacific region. This innovation brings augmented security and access to digital assets in the Canton Network, increasing institutional adoption and trust in cross-chain blockchain interconnectivity.
  • In March 2025, Wyoming launched tests for its state-backed stablecoin, WYST, across multiple blockchain networks. The initiative is part of the state's push to enhance blockchain interoperability and provide regulatory clarity for digital currencies. This multi-chain stablecoin testing is a step forward in promoting more flexible, compliant digital asset solutions in the blockchain environment.
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Global Blockchain Interoperability Market size was valued at USD 11.32 Billion in 2023 poised to grow from USD 11.86 Billion in 2024 to USD 17.22 Billion by 2032, growing at a CAGR of 4.77% in the forecast period (2025-2032).

The global blockchain interoperability market is fueled by leading players providing solutions for frictionless cross-chain exchanges. Key players include IBM, Polkadot, Cosmos, and Chainlink. IBM concentrates on implementing blockchain into current enterprise systems for interoperability that scales. Polkadot and Cosmos are working towards establishing interoperable ecosystems among multiple blockchains. Chainlink focuses on advanced smart contract functionality by providing secure cross-chain data feeds. Such firms use strategic alliances, R&D, and building ecosystems to hold the top position in the industry. 'IBM (USA)', 'Polkadot (Switzerland)', 'Cosmos (Switzerland)', 'Chainlink (USA)', 'ConsenSys (USA)', 'Wanchain (China)', 'Aion (Canada)', 'Quantum Resistant Ledger (United Kingdom)', 'Thorchain (Australia)', 'Interledger Protocol (USA)', 'Hyperledger (USA)', 'Cardano (Switzerland)', 'TRON (Singapore)', 'Avalanche (USA)', 'Algorand (USA)'

The rapid emergence of decentralized finance (DeFi) is the key growth driver of the global blockchain interoperability market growth. Applications of DeFi need frictionless interaction between blockchain platforms in order to facilitate transfers of tokens, liquidity management, and lending cross-chain. Cross-chain compatibility triggers the need for strong interoperability solutions among many blockchain ecosystems.

Increased Adoption of Cross-Chain Bridges: With the increase in blockchain ecosystems, there has been a high demand for cross-chain bridges. Such solutions facilitate smooth asset transfers between various blockchains, increase liquidity, and encourage interoperability. The development is fueled by the increasing demand for decentralized applications (DApps) and the emergence of decentralized finance (DeFi) platforms.

How is Decentralized Finance (DeFi) Driving Demand for Interoperability Tools in North America?

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Global Blockchain Interoperability Market
Blockchain Interoperability Market

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