In a recent announcement, Cosmos has teamed up with Ripple and Peersyst to work on the XRPL development using Cosmos' evmOS technology. The XRPL EVM Sidechain project is currently in progress in the Devnet stage.

This partnership aims to enhance Ripple's XRP Ledger by improving its interoperability within the blockchain ecosystem. By leveraging evmOS, the collaboration seeks to integrate the XRP Ledger into the broader interchain network, offering increased flexibility and connectivity.

The evmOS platform provides a sophisticated technology stack that enables compatibility with the Ethereum Virtual Machine (EVM) and allows for extensive customization on top of the Cosmos Standard Development Kit (SDK). Through the Inter-Blockchain Communication Protocol (IBC), Ripple's XRP Ledger will gain access to over 60 Cosmos-based SDK chains.

The XRPL's established position in the industry is expected to make its interoperability features highly impactful within the ecosystem, benefiting from its large user base. This move towards interchain connectivity is seen as a significant step forward for Ripple and the broader blockchain community.

Jasmine Cooper, Head of DeFi Product at Ripple, expressed enthusiasm about the collaboration, emphasizing the potential for growth and innovation within the XRPL ecosystem. The utilization of evmOS technology is anticipated to accelerate the development of the XRPL EVM sidechain, unlocking new opportunities for developers and users alike.

Evmos has pledged a $5 million grant towards the XRPL EVM chain, underscoring the importance of this partnership. The liquidity and market cap of XRPL are seen as valuable assets that will contribute to the success of the Interchain network. This collaboration signifies a major milestone in blockchain interoperability and marks a significant advancement for both Ripple and Cosmos in the evolving blockchain landscape.