LayerZero and Keeta have partnered to introduce tokenized commercial bank deposits transferable across Ethereum, Solana, Base and Keeta Network. According to the official LayerZero announcement, the companies plan to launch the service later this month, giving institutions a way to move bank-backed digital money across several public blockchains. The system will use Keeta Stablecoins, which the companies describe as tokenized commercial bank money, with commercial bank deposits held through Bivo and its partner-bank network backing the tokens. As reported, the partnership enables multicurrency settlement in seconds, representing a significant advancement in cross-chain financial infrastructure.
The initial release will cover nine fiat currencies, including USD, EUR, JPY, CNY, GBP, CAD, MXN, AED and HKD. As reported by LayerZero, Keeta Stablecoins will use the company's Omnichain Fungible Token Standard (OFT), which allows one fungible token to exist across several chains while maintaining one global supply. The partnership structure ensures that issuing institutions will retain contract authority across supported networks, with LayerZero offering stablecoin controls such as transfer restrictions, rate limits, pause functions and separate operational roles. Unlike conventional stablecoins, these instruments represent commercial bank money formatted for institutional activity, potentially simplifying treasury operations and payments for organizations working across borders.
Bivo will provide access to U.S. payment rails and its partner-bank network, with the company identified as a licensed money transmitter with NMLS number 2572288. According to the announcement, California's Department of Financial Protection and Innovation also lists Bivo as a regulated money transmitter in the state. The companies did not specify whether every token holder will receive deposit insurance or hold a direct claim against a named bank, stating only that commercial bank deposits held through Bivo will back the tokens. The architecture promises open blockchain mobility without asking regulated issuers to surrender operational control, an unusual compromise between permissionless distribution and institutional oversight.
The launch builds on broader tokenized deposit initiatives in 2026, including JPMorgan's shared network for tokenized deposits with a possible 2027 launch through a bank-led system. As reported, Custodia Bank and Vantage Bank have tested a dual-purpose token that acts as a bank deposit inside their Hazel network and as a stablecoin when it moves outside the network. LayerZero already supports cross-chain distribution for payment and tokenized-asset products, with PayPal expanding PYUSD to additional networks and Ondo Finance using LayerZero for cross-chain transfers of tokenized stocks and exchange-traded funds. The partnership responds to growing institutional interest in tokenized deposits, including plans by major U.S. banks for a shared, closed network available only to participating institutions, presenting an open public-chain alternative to closed banking network systems.
