Protocols are in a race to develop interoperability solutions as the growing number of layer-1 blockchains poses challenges for Web3 adoption. Axelar protocol introduced its Mobius Development Stack (MDS) on Oct. 2, enabling seamless integration between onchain and offchain systems for decentralized applications across multiple blockchain networks. Initially supporting Solana, Stellar, Sui, and XRP Ledger, the platform includes security enhancements from Babylon and EigenLayer, along with the Interchain Token Service (ITS) for asset tokenization. Sergey Gorbunov, CEO of Interop Labs and Axelar co-founder, highlighted the importance of interoperability stacks in keeping pace with blockchain expansion. Market projections indicate a 27.2% annual growth rate for the blockchain interoperability sector, reaching $1 billion by 2028. Recent developments in the crypto industry include CME's Bitcoin futures launch, Ripple's license approval in Dubai, Bitwise's XRP ETF filing, and the impact of the Federal Reserve's interest rate cut on stablecoin revenue. Read more AI-generated news on: https://app.chaingpt.org/news