Ardana and Near Agreement to Co-Develop Cardano Bridge Infrastructure

Cardano’s growing stablecoin center, Ardana, announced on November 23 the establishment of a strategic partnership with the Near agreement. The partnership allows asset transfers between the two agreements, in which Ardana will provide the bridging infrastructure.

Ardana is a decentralized stablecoin center built on the Cardano network. Although Ardana (DANA) is its governance token, it will use dUSD as a verified on-chain collateral, enabling borrowers to utilize its Cardano (ADA) or other backed assets.

Due to its bridging with the Near agreement, Cardano users will soon be able to transfer assets from Cardano to Near and vice versa. NEAR (NEAR) will also be available as an asset on Cardano soon. NEAR will be used as collateral for Ardana to mint stablecoins.

Using the proof-of-stake consensus, Near has already cooperated with Ethereum, Polkadot, Cosmos, etc. Adding Cardano to its third-generation blockchain product portfolio will strengthen the network and bring further integration between Cardano partners (such as Ardana). Ryan Matovu, CEO and founder of Ardana said:

“This cooperation will help the two organizations to explore new growth paths in the emerging blockchain technology ecosystem, and will prove to be a milestone in future blockchain scalability.”

He told Cointelegraph that Adana and Near are working together because “they are a top ecosystem with reliable technology.”

After the strong growth in Cardano’s adoption rate, the news spread.The network recently surpassed 2 million wallet markAccording to the Cardano Foundation, the previous milestone of 1 million ADA wallets was reached just six months ago.

“NEAR’s vision has always envisioned a multi-chain world in which each blockchain can seamlessly talk to each other and exchange data. Ardana helps create a multi-chain world, and integration like this helps achieve this goal,” NEAR Said Erik Trautman, CEO of the foundation.

NEAR’s partnership is a series of partnerships established in the past six months, including Alchemy Pay, Ceramic and Octopus Network.

Ultimately, Charles Hoskinson’s vision for the network is that Cardano “will win as an ecosystem, As a sport. “Partnerships, bridges, and blockchain integration will further advance the goals of the Cardano Foundation.