Tokenized Bank Deposits Expand Cross-Chain Settlement on Ethereum, Solana, Base
LayerZero has partnered with Keeta to bring tokenized bank deposits across Ethereum, Solana, Base, and Keeta Network. The partnership uses LayerZero's interoperability standard to enable cross-chain settlement of commercial bank money. Commercial bank deposits held through Bivo will support USD and eight additional fiat currencies scheduled for release later this month.
The model differs from common reserve-backed stablecoins as each token represents a commercial bank deposit through Bivo, rather than being backed by a reserve asset. LayerZero supplies the interoperability layer while Keeta provides compliance-focused payment infrastructure. Institutions can manage one asset across several public networks.
Issuing institutions retain control over the token contracts and their operating rules, which is important for commercial bank money as issuers must manage legal and operational obligations. The initial network includes Ethereum, Solana, Base, and Keeta, with supported currencies including USD, EUR, JPY, CNY, GBP, CAD, MXN, AED, and HKD.