LayerZero and Kit Support Moving Tokenized Bank Deposits to Public Blockchain

LayerZero and Kit have partnered to support the migration of regulated commercial bank funds to public blockchains. By combining LayerZero's omnichain interoperability protocol with Kit's compliance-ready infrastructure, institutions can now move funds across networks including Ethereum, Solana, Base, and more. The partnership centers on Kit's stablecoin, which represents actual bank deposits and is securely stored via Bitbond, a fintech platform with a U.S. payment license. Unlike traditional stablecoins that mix collateral, Kit's stablecoin maintains direct control over commercial bank deposits through LayerZero's omnichain fungible token standard. LayerZero announced Kit's stablecoin will launch in USD, EUR, JPY, CNY, GBP, CAD, MXN, and AED by late July.