LayerZero, Keeta Team Up to Bring Regulated Tokenized Commercial Bank Funds to Public Blockchains

LayerZero and Keeta have formed a partnership aimed at moving regulated commercial bank funds onto public blockchains and extending institutional settlement rails beyond closed banking networks, according to The Block. The collaboration pairs LayerZero's cross-chain interoperability protocol with Keeta's compliance-native infrastructure. The two companies say this will allow institutions to transfer bank-grade funds across the Keeta network as well as Ethereum, Solana, and Base, supporting treasury management and payment use cases. The initiative centers on the Keeta stablecoin. LayerZero said the stablecoin is backed by commercial bank deposits held through Bivo, and that additional currencies are slated to launch later this month, including the U.S. dollar, euro, Japanese yen, Chinese yuan, British pound, Canadian dollar, Mexican peso, UAE dirham, and Hong Kong dollar. Keeta is a Visa Direct payment network partner and is building blockchain infrastructure for regulated financial institutions. As part of the agreement, Keeta will integrate LayerZero into its network as an anchor.