LayerZero · Ethereum · Japan · China · The Block
LayerZero, Keeta enable tokenized bank deposits across Ethereum, Solana and Base
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LayerZero and Keeta have partnered to enable regulated commercial bank money to move across public blockchains, as the two companies seek to expand institutional settlement infrastructure beyond closed banking networks.
Key facts
- Also, the partnership arrives after an April 18 exploit drained roughly $292 million in rsETH from Kelp DAO's cross-chain bridge
- Keeta, a Visa Direct payments network partner, is building blockchain infrastructure for regulated financial institutions and recorded a verified 11.2 million transactions per second during a public
- The future of institutional money isn't a walled garden," Keeta CEO Ty Schenk said
- Shared with The Block on Thursday, LayerZero said the partnership combines its omnichain interoperability protocol with Keeta's compliance-native infrastructure, enabling institutions to move
Summary
Shared with The Block on Thursday, LayerZero said the partnership combines its omnichain interoperability protocol with Keeta's compliance-native infrastructure, enabling institutions to move bank-grade money across the Keeta Network, Ethereum, Solana, and Base for treasury and payment operations. According to the statement, the rollout is anchored by Keeta stablecoins, a new category of tokenized commercial bank money backed by commercial bank deposits held through Bivo, a U.S.-licensed financial technology platform with access to U.S. payment rails and a partner-bank network. Unlike traditional stablecoins that rely on a mix of reserves, Keeta stablecoins represent actual commercial bank deposits and allow the issuing institution to retain full contract authority at every step through LayerZero's Omnichain Fungible Token Standard.