Axelar

Based in Canada, Axelar provides a secure cross-chain communication platform for developers to build and deploy dApps across multiple blockchains. The company was formed by the creators of the Algorand blockchain. Axelar consists of 1) a network layer that is an open overlay network that offers Turing-complete cross-chain communication, which is monitored by delegated validators through a proof-of-stake consensus mechanism and 2) an API layer, which is the application development layer that sits on top of the network layer. Developers use APIs and SDKs to build and deploy dApps across multiple interoperable blockchains, without the need to roll out or manage the blockchain infrastructure. As of August 2022, Axelar supported interoperability between 17 different blockchains including Ethereum, Avalanche, and Polygon.

In October 2024, Axelar launched the Mobius Development Stack (MDS) on its mainnet, providing a customizable platform for integrating with various blockchain and off-chain systems. MDS enables developers to create multichain applications, offering flexible security options and native token management across multiple chains.

Key customers and partnerships

In July 2023, the company partnered with Microsoft to improve Web3 adoption by constructing a data integration and interoperability layer that connects isolated blockchain networks. The collaboration seeked to utilize Axelar's secure cross-chain communication network with Microsoft Azure, allowing customers of the latter to construct new Web3 apps. In addition, it partnered with Immutable (in January 2024) to enable the latter to onboard players across 50+ blockchains and increase liquidity through new user funding channels, by integrating games built on Immutable's zkEVM into the Axelar network.