What is Axelar Binance?

Could you please explain what Axelar Binance is? I've heard some buzz about it in the cryptocurrency community, but I'm not quite sure what it actually does or how it fits into the larger financial ecosystem. Could you provide a brief overview of its functionality, as well as any potential benefits or drawbacks it might offer to investors or users? Additionally, how does it differ from other similar platforms or services in the market? I'm curious to learn more about this emerging cryptocurrency initiative.