NEAR Foundation, the non-profit organization backing the growth of NEAR L1 blockchain, has commenced an exclusive collaboration with Everclear, an advanced cross-chain settlement and clearing protocol. The partnership aims to integrate Everclear with NEAR Foundation to scale the liquidity services and advance cross-chain stablecoin clearing. Stablecoin clearing is the process of automatically settling and balancing stablecoin transactions across different blockchains or platforms to make transfers faster, cheaper, and more efficient.
In its latest press release, NEAR Foundation has asserted that it attempts to support Everclear in broadening its operations. As a result of this, the initiative is poised to deliver a robust cross-chain liquidity network.
NEAR Taps Everclear to Redefine Cross-Chain Stablecoin Clearing
The collaboration between NEAR Foundation and Everclear is a notable development to redefine the cross-chain stablecoin clearing. In this respect, the integration will take place between NEAR Intents and Everclear. This will enable Everclear to serve as the main rebalancing mechanism and technical enabler within the solver network of NEAR.
Hence, NEAR Foundation will scale the liquidity services of Everclear to fulfill the rising demand for a streamlined digital asset movement across chains. Additionally, the financial support provided by NEAR Foundation will let Everclear broaden its operations to target billions in terms of monthly transfer volume throughout the next year. While expressing support for this development, Dima Khanarin, Everclear Foundation’s CEO, predicted the cross-chain digital asset clearing ecosystem’s surge above $1T in the near term.
Joint Effort Targets Developing Streamlined Cross-Chain Liquidity Ecosystem
As per NEAR Foundation, the collaboration builds on the shared vision of merging liquidity across scattered blockchain platforms. Thus, the Chain Abstraction mechanism of NEAR improves Everclear’s sophisticated infrastructure for automated rebalancing, netting, and clearing. Overall, the joint endeavor is set to establish a unified and seamless cross-chain liquidity ecosystem to reform the flow of digital assets across the Web3 sector.
