LayerZero and Keeta Launch Native Deposit-Backed Stablecoins on Multiple Chains
A new development in tokenized bank deposits has emerged, as LayerZero and Keeta are launching a platform that enables natively transferable deposit-backed stablecoins across multiple chains.
The platform will allow users to hold tokens representing commercial bank deposits in various currencies, including USD, EUR, JPY, CNY, GBP, CAD, MXN, AED, and HKD. These tokens will be backed by actual bank deposits held via Bivo, a U.S.-licensed fintech with access to domestic payment rails and a partner-bank network.
The novelty of this platform lies in its ability to transfer these tokens natively across chains, eliminating the need for wrapped assets or bridges. LayerZero's Omnichain Fungible Token (OFT) standard enables seamless movement between supported chains, with issuers maintaining control over token supply and rules.