Infinex selects Wormhole as primary interoperability solution

Decentralized finance platform Infinex will leverage Wormhole’s interoperability solution to bolster its multichain app.

According to the latest announcement from Infinex, the integration of Wormhole (W) brings in-app token transfers to Infinex users. With Wormhole Connect, the DeFi platform will be able to remove the barriers and challenges that come with multiple chains and tokens.

Wormhole Queries, on the other hand, allows developers to benefit from on-demand retrieval of on-chain data across chains.

Driving multi-chain DeFi innovation

The integration with Wormhole brings multichain access to DeFi for users, with liquidity available across 30 top blockchain networks.

Infinex will tap into the overall security and low costs associated with the interoperability solution, which has various industry players using Wormhole. These include digital assets securities platform Securitize, stablecoin issuer Circle, asset management giant BlackRock, and decentralized exchange Uniswap.

The solution allows for easy recovery of assets stuck on non-Base Ethereum Virtual Machine-compatible chains, with secure syncing of account states via 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 among six EVM and non-EVM networks. The platform also offers access to non-fungible tokens and governance coins, with the platform recently raising over $65.2 million through an NFT sale.

The funding attracted the participation of key industry players, including Framework Ventures, Solana Ventures, Moonrock Capital and Wintermute.