just now
The Algorand Foundation has announced the integration of Wormhole’s Native Token Transfers (NTT) standard on the Algorand blockchain, a move developed in close collaboration with Folks Finance, the leading lending and liquid staking protocol on Algorand.
With Wormhole’s NTT standard supporting over 40 blockchains, Algorand now becomes a first-class chain in the Wormhole NTT ecosystem. This integration allows developers to issue and transfer tokens across chains natively, removing the need for wrapped assets and opening up access to one of the largest interoperability networks in the crypto sector.
The rollout is designed to lay the groundwork for the upcoming launch of the FOLKS token and to support future cross-chain decentralised finance (DeFi) growth on Algorand.
Robinson Burkey, co-founder of the Wormhole Foundation, said, “This milestone future-proofs Algorand’s DeFi ecosystem. Builders now have a trusted way to launch multichain tokens that preserve the native user experience and performance of Algorand.”
The NTT integration brings several benefits:
- Algorand developers can mint NTT-based tokens using existing standards and tools, creating new opportunities for multichain liquidity and user flows across ecosystems.
- Retail users will be able to move assets directly between Algorand and other NTT-enabled chains through familiar interfaces, making access to liquidity and application use cases more straightforward.
Token issuers from other ecosystems can now deploy their assets natively on Algorand, unlocking new users, liquidity pools, and DeFi protocols without needing to wrap or mirror their tokens.
Staci Warden, CEO of the Algorand Foundation
Staci Warden, CEO of the Algorand Foundation, commented, “Interoperability is key to Algorand’s long-term growth. We’re happy to support this launch alongside Folks Finance and Wormhole, and to see Algorand become a core player in the open, connected blockchain ecosystem.”
This collaboration brings together Folks Finance’s leadership in integration, Wormhole Foundation’s infrastructure, and auditing and relayer contributions from xLabs. Documentation, open source SDKs, and tooling are now available for developers interested in integrating NTT. Folks Finance and the Algorand Foundation plan to host community activations and developer sessions in the coming weeks to support the first wave of NTT-powered applications on Algorand.
Wormhole is an interoperability platform connecting over 40 blockchain networks and has enabled more than $60 billion in cross-chain volume to date. Folks Finance, initially the leading DeFi protocol on Algorand, has evolved into a multichain DeFi hub, offering permissionless DeFi tools and cross-chain services.
The integration of Wormhole’s NTT standard is expected to accelerate Algorand’s multichain ambitions and further position the blockchain as a central player in the evolving DeFi landscape.
