Giant Banking Move from 2 Altcoins: 9 Currencies Will Now Circulate on 4 Major Networks
A new partnership established between LayerZero and Keeta tokenizes commercial bank deposits, making them transferable across Ethereum, Solana, Base, and Keeta Network.
A giant step has been taken toward moving traditional banking liquidity from closed networks to public blockchains. LayerZero and Keeta, have announced a new infrastructure that will allow institutional-grade money to circulate freely within the digital asset ecosystem. This collaboration offers institutional investors instant settlement and liquidity advantages by allowing bank deposits to move on-chain like stablecoins.
The Keeta stablecoins, which form the basis of the system, are backed directly by commercial bank deposits through the US-licensed financial technology platform Bivo. These assets, set to launch at the end of this month, will cover a total of 9 different currencies, including the US Dollar, Euro, Japanese Yen, and British Pound. Through this model, banks will be able to securely represent their own deposits on blockchain networks.
Seamless Transfer Infrastructure for Bank Deposits
As a partner of the Visa Direct payment network, Keeta stands out with its technological prowess. Reaching a massive speed of 11,200,000 transactions per second (TPS) in tests conducted with the Google Spanner engineering team, the platform provides the reliability required for institutional transactions. LayerZero, on the other hand, serves as the main backbone ensuring these assets are safely moved across different networks, facilitating asset transfers.
Already utilized by important names such as PayPal, Bridge, and Ondo Finance**, LayerZero is further increasing its institutional influence with this partnership. Continuously updating its security protocols, the platform integrates traditional finance liquidity into modern blockchain networks, pushing the boundaries of closed banking systems. This development is seen as a move that will accelerate the use of tokenized assets in mainstream financial operations.