Cardano Foundation backs contribution of IBC technology to LF Decentralized Trust

The Cardano Foundation said it is supporting efforts to contribute IBC, a technology for transferring assets and data across independent ledgers, to LF Decentralized Trust. According to the foundation, IBC has processed more than $50 billion in transaction volume across more than 200 networks since 2021. The foundation said it joined Cosmos and 22 other sponsors on Nov. 9, with the goal of helping IBC grow into a major standard across finance.