The blockchain interoperability project Union Labs intends to interface with AggLayer, a decentralised service launched by developer Polygon Labs earlier this year that permits liquidity pooling across linked networks.
The purchase is noteworthy because it has the potential to strengthen the connections between Polygon, one of the largest Ethereum scaling networks, and the Cosmos blockchain ecosystem, which Union has been developing through its Inter-Blockchain Communication Protocol (IBC) and its network of interconnected blockchains.
“The integration will unlock greater liquidity access and movement between AggLayer-connected chains and IBC-enabled chains, ensuring a trustless, efficient and low-latency process,” stated a press release.
According to Union Labs CEO Karel Kubat, the news demonstrated “both projects’ commitment to addressing the siloed nature of blockchains while upholding sovereignty.”
Union Labs intends to deploy its mainnet later this year. In November, the company reported that it had raised $4 million.