anchorage.com
- Anchorage Digital has selected LayerZero as its interoperability partner to add cross-chain infrastructure to its institutional stablecoin issuance platform.
- Tether’s USAT is confirmed as the first Anchorage-issued stablecoin to launch using LayerZero’s Omnichain Fungible Token standard.
- The partnership announcement does not state that every existing deployment of other supported stablecoins has already moved to the OFT framework.
Anchorage Digital has selected LayerZero as its interoperability partner for stablecoins issued through federally regulated Anchorage Digital Bank, adding cross-chain infrastructure to its institutional issuance platform.
Stablecoins issued through the partnership will use LayerZero’s Omnichain Fungible Token, or OFT, standard. Tether’s USAT is the first Anchorage-issued stablecoin confirmed to launch with the technology.
USAT Becomes First Anchorage Stablecoin to Use LayerZero OFT
The OFT standard allows tokens to move between supported blockchain networks while maintaining a unified supply rather than creating separate wrapped representations.
For tokens issued directly as OFTs, transfers can burn tokens on the source chain and mint the same amount on the destination. Existing tokens can also use an adapter that locks assets on one network before minting on another.
USAT is the first implementation under the Anchorage partnership. Anchorage Digital Bank issues the dollar-backed stablecoin in collaboration with Tether under U.S. federal banking oversight.
Anchorage’s issuance platform also supports Western Union’s USDPT, OSL Group’s USDGO and Falcon Finance’s fUSD. The partnership announcement does not say that every existing deployment of those stablecoins has already moved to OFT.
LayerZero OFT Connects More Than 170 Blockchains
LayerZero says its OFT infrastructure connects more than 170 blockchains and has handled about $280 billion in lifetime transfers.
The standard is already used by stablecoins including PayPal USD, Paxos-issued USDG and USDT0. South Korean digital asset custodian BDACS also selected OFT this month for KRW1, its won-backed stablecoin.
Partnership Pairs Federal Issuance With Cross-Chain Distribution
Anchorage provides the regulated issuance infrastructure, including reserve management, minting and redemption, custody, settlement, and compliance controls. LayerZero does not issue the stablecoins or manage their reserves.
The partnership adds cross-chain distribution to that infrastructure. Anchorage said stablecoins issued through the arrangement are expected to support interoperability across networks including Ethereum, EVM-compatible chains and Solana.
USAT is the first Anchorage Digital Bank-issued stablecoin to launch with LayerZero interoperability, with additional assets on the issuance platform positioned to use the same OFT framework.
