Anchorage Digital Partners with LayerZero
Anchorage Digital has officially partnered with LayerZero to enhance interoperability for its bank-issued stablecoins, introducing the Tether-backed USAT as the inaugural token to adopt LayerZero’s OFT (Omnichain Fungible Token) framework. This collaboration, announced on September 21, will leverage LayerZero’s cross-chain capabilities to connect stablecoins issued through Anchorage Digital Bank, N.A. across multiple blockchain networks including Ethereum, EVM-compatible platforms, and Solana.
LayerZero’s Role and Capabilities
With access granted to an extensive network of over 170 blockchains, the agreement positions LayerZero as the designated interoperability infrastructure for stablecoins registered with Anchorage Digital. While LayerZero facilitates the technical integration and messaging between blockchains, Anchorage retains its role in compliant issuance.
LayerZero’s OFT protocol empowers asset issuers to keep a consistent token supply while enabling transactions across various blockchains. Importantly, issuers are afforded flexibility in managing their token contracts, determining their compatible blockchains and messaging security settings.
Although 170 blockchains are available through LayerZero’s network, it does not imply an immediate launch of every Anchorage-managed stablecoin on all networks. Issuers will handpick which chains their tokens will utilize and set up the necessary connections. LayerZero’s announcement hinted at future Anchorage-issued tokens being crafted for smooth operation throughout major ecosystems but offered no specific timeline for deployment.
Introduction of USAT Stablecoin
The USAT stablecoin, introduced by Tether in January, is the first programmable asset under the Anchorage Digital issuance umbrella to utilize LayerZero’s framework. This U.S.-regulated token is distinct from Tether’s globally recognized USDT, having originated on the Ethereum blockchain before extending to Celo.
Anchorage Digital Bank is committed to transparency, providing monthly reserve attestations for USAT, with reports indicating an initial count of 17.5 million tokens supported by reserves totaling $17.6 million. The original USAT contract on Ethereum is noted as 0x07041776f5007aca2a54844f50503a18a72a8b68.
Previous Collaborations and Future Prospects
LayerZero has previously collaborated with Tether beyond USAT. Earlier this year, Tether invested in LayerZero Labs, and the OFT framework already supports the omnichain version of USDT, known as USDT0, which employs a unified supply model instead of relying on different liquidity pools.
The partnership also includes other stablecoins such as Western Union’s USDPT and OSL Group’s USDGO. The USDPT was launched on Solana in May and designed for use within Western Union’s international settlement network. USDGO, which deployed on Solana in February, saw significant success, achieving a market cap exceeding $1 billion within six months.
Falcon Finance is represented as well with its fUSD token issued through Anchorage Digital Bank, aimed at institutional use, with reserves composed of cash and high-yield assets. The fUSD debuted in May and is also positioned to use LayerZero’s offerings.
Regulatory Compliance and Future Developments
Despite the advancements, LayerZero has yet to provide specific activation schedules for individual stablecoins under its partnership with Anchorage.
Anchorage Digital Bank holds a national trust bank charter, having transitioned from a trust company in South Dakota in January 2021. Recent compliance scrutiny from the Office of the Comptroller of the Currency (OCC) was resolved when the OCC lifted a consent order related to compliance deficiencies in August 2025. The bank continues to operate under its national charter, fulfilling regulatory requirements.
