TechFlow News — Axelar, a universal interoperability platform, has launched the Interchain Token Service (ITS), designed to enable ERC-20 token interoperability.
The service specifically focuses on enabling ERC-20 token interoperability across all EVM-compatible ecosystems. Tokens are minted at a 1:1 ratio and managed through Axelar's native compute environment, the Axelar Virtual Machine.
Sushi is among the first projects to adopt "interchain tokens" via this service, planning to leverage ITS for seamless cross-chain interactions of its native SUSHI token. Initial deployment will ensure interoperability of SUSHI across chains including Arbitrum, Ethereum, Optimism, and Polygon.
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