Anchorage Digital and LayerZero Team Up for Cross-Chain Stablecoin Issuance
Anchorage Digital, the US-based crypto bank, has partnered with LayerZero to enable cross-chain stablecoin issuance. The deal leverages LayerZero's Omnichain Fungible Token (OFT) standard, which allows for seamless transfers between over 170 blockchains.
The OFT standard has processed $280 billion in lifetime transfers, accounting for about 87% of cross-chain volume. This integration enables Anchorage-issued stablecoins to be transferred across multiple chains without relying on wrapped assets or third-party bridge liquidity.
USDT0's expansion to Stellar is one example of the cross-chain machinery already in place. The first Anchorage-issued stablecoin to launch with LayerZero interoperability is USAT, which was launched in January as Tether's U.S.-regulated dollar token.