Anchorage Digital Adds Cross-Chain Distribution to Regulated Stablecoin Issuance
Anchorage Digital has partnered with LayerZero to provide cross-chain distribution for its stablecoin issuance business. This partnership allows Anchorage to issue stablecoins that can operate across multiple blockchain ecosystems using LayerZero's Omnichand Fungible Token (OFT) standard.
The first stablecoin to launch with this interoperability is Tether's USAT, which was issued through Anchorage Digital Bank under OCC supervision. The partnership extends beyond a single stablecoin, with Anchorage saying stablecoins issued through its bank will be designed to support cross-chain functionality going forward.
LayerZero has supported more than 170 blockchains and facilitated over $260 billion in cumulative value transferred. This partnership provides Anchorage with a standardized interoperability layer that can potentially extend across multiple networks, giving issuers another component: distributing stablecoins across multiple blockchain environments rather than a single chain.