Citadel Securities · LayerZero · CoinDesk
LayerZero launches trading infrastructure for crypto and tokenized markets, ZRO climbs
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LayerZero, the blockchain infrastructure firm that has been working with financial heavyweights like DTCC, Intercontinental Exchange (ICE) and Citadel Securities, is moving deeper into trading infrastructure to serve as the backend for exchanges and other platforms offering crypto and tokenized assets.
Key facts
- Trading around $1 earlier in the session, LayerZero's ZRO ZRO $ 1.0684 token surged more than 30% on the plans
- The expansion also comes after a rough patch for LayerZero's cross-chain business: several protocols moved away from its bridging infrastructure after attackers stole about $292 million worth
- LayerZero, the blockchain infrastructure firm that has been working with financial heavyweights like DTCC, Intercontinental Exchange (ICE) and Citadel Securities, is moving deeper into trading
- The world's global asset base is expanding faster than ever before,” Bryan Pellegrino, co-founder and CEO of LayerZero said in a statement
Summary
Interoperability protocol LayerZero introduced ATLAS, a trading and settlement engine built on its Zero blockchain. The system is designed for both crypto-native platforms and institutions looking to offer markets around the clock. Trading fees will also feed into LayerZero's ZRO token through a buy-and-burn mechanism. ATLAS, short for Aggregated Trading Liquidity and Settlement, combines trade matching, clearing, settlement and risk management in one system built on Zero, LayerZero's blockchain announced earlier this year.