Infinex selects Wormhole as primary interoperability solution

Decentralized finance platform Infinex will leverage Wormhole’s interoperability solution to support multi-chain implementation.

According to Infinex’s latest announcement, Wormhole (W) integration brings in-app token transfers to Infinex users. With Wormhole Connect, the DeFi platform will be able to eliminate the barriers and challenges brought by multiple chains and tokens.

Wormhole Queries, on the other hand, allow developers to take advantage of optional retrieval of on-chain data across chains.

Supporting multi-chain DeFi innovation

Integration with Wormhole provides multi-chain access to DeFi for users, and liquidity is available on top 30 blockchain networks.

Infinex will benefit from the overall security and lower costs associated with the interoperability solution that various industry players use Wormhole. These include digital asset securities platform Securitize, stablecoin issuer Circle, asset management giant BlackRock and decentralized exchange Uniswap.

The solution allows for easy recovery of assets stuck on Core Ethereum Virtual Machine compatible chains by securely synchronizing account states through a single transaction. This means Infinex users will be able to recover non-USDC funds from various networks.

Apart from Solana, Infinex currently supports Base and Arbitrum across six EVM and non-EVM networks. The platform also offers access to non-fungible tokens and governance coins, and the platform recently raised over $65.2 million through an NFT sale.

The fund attracted participation from key industry players such as Framework Ventures, Solana Ventures, Moonrock Capital and Wintermute.