AlgoFoundation joins Wormhole ’s multichain NTT network

By Matt Brienen

Published: 2025-07-02T18:10:13+00:00

On July 1, 2025, the Algorand Foundation announced its integration with Wormhole’s Native Token Transfers (NTT) standard, developed in collaboration with Folks Finance. This marks a major milestone for Algorand, enabling native token transfers across more than 40 blockchains without the need for wrapping. The NTT framework locks or burns assets on one chain and mints or unlocks them on another, maintaining native identity and metadata.

This upgrade allows all existing Algorand Standard Assets (ASA) and ARC200 tokens to move freely across major networks like Ethereum, Solana, Avalanche, and more. It simplifies user experience, reduces bridging complexity, and boosts liquidity across ecosystems. Folks Finance implemented the smart contracts and infrastructure needed for this system, which also supports the upcoming launch of its own FOLKS token.

The benefits are far-reaching. Developers can now mint interoperable tokens using Algorand-native tools, users gain a faster and more efficient way to move assets cross-chain, and token issuers from other ecosystems can deploy directly to Algorand. This unlocks new liquidity opportunities and advances Algorand’s vision of scalable, seamless DeFi across chains.

This marks a pivotal step for Algorand’s cross-chain ambitions, positioning it as a true player in the multichain future of decentralized finance.