LayerZero has announced a partnership with Keeta to support the movement of tokenized commercial bank deposits across Keeta Network, Ethereum, Solana, and Base. The companies said the setup is designed as cross-chain settlement infrastructure for institutional users.
According to the announcement, LayerZero’s omnichain interoperability protocol will be combined with Keeta’s compliance infrastructure to support treasury management and payment use cases. The product, branded as Keeta Stablecoins, is backed by commercial bank deposits held in custody by Bivo, a U.S.-licensed fintech platform.
The companies said this structure differs from traditional stablecoins because the tokens correspond to real commercial bank deposits. Issuers will also be able to retain control of their contracts through LayerZero’s Omnichain Fungible Token, or OFT, standard. Keeta Stablecoins are scheduled to launch later this month, with U.S. dollar support first, followed by euro, yen, yuan, pound sterling, Canadian dollar, Mexican peso, UAE dirham, and Hong Kong dollar.
LayerZero said it has partnered with Keeta to support the transfer of tokenized commercial bank deposits across Keeta Network, Ethereum, Solana, and Base, with the system aimed at institutional cross-chain settlement.
According to the announcement, the two companies will combine LayerZero’s omnichain interoperability protocol with Keeta’s compliance infrastructure to support treasury management and payments for institutions.
The product, called Keeta Stablecoins, is backed by commercial bank deposits held in custody by Bivo, a U.S.-licensed fintech platform. The announcement said the structure differs from traditional stablecoins because the tokens correspond to real commercial bank deposits. Issuers will also be able to maintain control of their contracts through LayerZero’s Omnichain Fungible Token, or OFT, standard.
Keeta Stablecoins are set to launch later this month. The first supported currency will be the U.S. dollar, with later expansion planned for the euro, yen, yuan, pound sterling, Canadian dollar, Mexican peso, UAE dirham, and Hong Kong dollar.
The report was attributed to The Block.
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