Brale launches ION Protocol, enabling cross-chain transfers of stablecoins through burn and mint mechanisms

According to Odaily, stablecoin infrastructure company Brale has launched the ION Protocol, an interoperability system that allows participants to transfer stablecoins across blockchains by burning tokens on one chain and minting them on another.

ION Protocol is now live on the testnet. Currently, there are more than 350 stablecoins in the market with a total market capitalization exceeding $300 billion. Market growth is accompanied by liquidity fragmentation.

Brale stated that, unlike traditional blockchain bridges that rely on pre-funded liquidity pools, ION is designed to reduce capital requirements and address liquidity bottlenecks in the scaling of customized stablecoins.