Its participation will help advance interoperable, regulated stablecoin infrastructure as adoption of cross-chain digital dollars continues to grow.
LayerZero has become a member of the Global Dollar Network, strengthening its role in regulated stablecoin infrastructure, according to a Wednesday statement.
Launched in late 2024, the Global Dollar Network is an industry-wide stablecoin initiative built to promote institutional adoption of Global Dollar (USDG), a regulated US dollar-backed stablecoin issued by Paxos entities under regulatory oversight in Singapore and the European Union.
The network’s founding members include Paxos, Robinhood, Kraken, Galaxy Digital, Anchorage Digital, Bullish, and Nuvei. Through the network, participants receive a share of the returns generated by USDG’s reserve assets in proportion to their contribution to the ecosystem, creating financial incentives for stablecoin adoption.
LayerZero said that its Omnichain Fungible Token (OFT) standard already powers USDG, while the partnership brings LayerZero into an ecosystem of more than 150 institutions and enterprises.
The move expands collaboration around interoperable dollar infrastructure, with LayerZero providing cross-chain connectivity across more than 170 blockchain networks.
