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LayerBank Goes Omnichain Through LayerZero

Twitter icon  •  Published 3 months ago on January 8, 2025  •  Hassan Maishera

On Tuesday, the LayerZero team announced via X that LayerBank, a permissionless onchain bank, is going omnichain with LayerZero.

LayerBank Goes Omnichain Through LayerZero

On Tuesday, the LayerZero team announced via X that LayerBank, a permissionless onchain bank, is going omnichain with LayerZero. ULAB, its native token, has adopted the OFT Standard for cross-chain transfers. LayerBank is also using LayerZero messaging to power a cross-chain lending market.

Moving forward, LayerBank will leverage LayerZero's OApp, OFT standard, and interoperability solutions to enable multi-chain bridging for the $ULAB token and launch a cross-chain lending market. This will provide LayerBank users with a seamless experience unrestricted by chain boundaries.

LayerZero is an interoperability protocol designed to facilitate seamless communication between different blockchains. It aims to create a unified, interconnected blockchain ecosystem where assets and data can move freely across various networks. ZRO trades at $5.038, down 12.5% in the last 24 hours.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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