Brale launches IONProtocol to support cross-chain transfer of stablecoins through destruction and casting

Stablecoin infrastructure company Brale has launched IONProtocol, an interoperability system that allows participating stablecoins to transfer across blockchains by destroying tokens on one chain and minting tokens on another chain. IONProtocol has been launched on the test network. Currently, there are more than 350 tokens in the stablecoin market, with a total market value of more than US$300 billion. Market growth is accompanied by dispersion of liquidity. Brale said that unlike traditional blockchain bridges that rely on pre-funded liquidity pools, ION aims to reduce capital requirements and address liquidity bottlenecks in the expansion of customized stablecoins.