Crypto
LayerZero Joins Global Dollar Network Alongside Over 150 Institutions
LayerZero has become a member of the Global Dollar Network, joining more than 150 institutions in promoting institutional adoption of the regulated US dollar-backed stablecoin, USDG.
The Global Dollar Network is an industry-wide initiative launched late last year to encourage use of USDG, issued by Paxos entities under regulatory oversight in Singapore and the European Union.
LayerZero's Omnichain Fungible Token (OFT) standard powers USDG, while the partnership brings LayerZero into a large ecosystem of financial institutions and enterprises.
The move expands collaboration around interoperable dollar infrastructure, with LayerZero providing cross-chain connectivity across over 170 blockchain networks.