Anchorage Digital Picks LayerZero for Multichain Stablecoin Issuance

Key Facts

Anchorage Digital selected LayerZero as the interoperability partner for its stablecoin-issuance platform. Under the arrangement, LayerZero will become the preferred layer for adding cross-chain functionality to stablecoins issued through Anchorage Digital Bank, N.A.

The covered stablecoins will use LayerZero’s Omnichain Fungible Token, or OFT, standard. LayerZero’s documentation says a transfer removes tokens from circulation on the source chain through burning or locking, sends the transfer instructions through the protocol, and credits an equivalent amount on the destination chain, preserving a unified supply across networks.

The companies said Tether’s USAT will be the first Anchorage Digital Bank-issued stablecoin to launch with LayerZero interoperability using OFT. LayerZero says its infrastructure reaches 170+ blockchains, while the announced expansion plan identifies Ethereum, EVM-compatible networks and Solana.

The Office of the Comptroller of the Currency (OCC) granted Anchorage Digital Bank a national trust bank charter in 2021, placing the banking entity under federal supervision. Interoperability, however, addresses how a token moves between networks and does not by itself guarantee liquidity or price stability; the next test will be execution of the announced launches, redemption terms and smart-contract controls on each network.