LayerZero and Keeta have formed a partnership to make tokenized commercial bank deposits transferable across Ethereum, Solana, Base and the Keeta Network.

Under the plan, Keeta Stablecoins will represent commercial bank deposits and move across the four networks using LayerZero infrastructure. The companies said nine fiat currencies are scheduled to launch across supported public blockchains later in July 2026.

Bivo will hold the deposits backing the tokens, while issuers will retain control over contracts, transfers and compliance requirements. The companies said the service is intended to give institutions a way to move bank-backed digital money across multiple public blockchains.

(1/8) Keeta has partnered with @LayerZero_Core to bring tokenized commercial bank money to major blockchains. Together, we’re the first to combine regulated, compliance-native infrastructure with omnichain interoperability, enabling financial institutions to move bank-grade… pic.twitter.com/QKPJff0b7N — Keeta (@KeetaNetwork) July 23, 2026

(1/8) Keeta has partnered with @LayerZero_Core to bring tokenized commercial bank money to major blockchains. Together, we’re the first to combine regulated, compliance-native infrastructure with omnichain interoperability, enabling financial institutions to move bank-grade… pic.twitter.com/QKPJff0b7N

The system will use Keeta Stablecoins, which the companies describe as tokenized commercial bank money. The tokens will be backed by commercial bank deposits held through Bivo and its partner-bank network. The first release will include the U.S. dollar and eight other fiat currencies.

Keeta Stablecoins are designed for multichain settlement

According to the official LayerZero announcement, the initial currencies will be USD, EUR, JPY, CNY, GBP, CAD, MXN, AED and HKD. The companies did not provide a specific launch date and did not name the institutions that will use the product at launch.

The product is aimed at treasury, payment and settlement use cases. An institution could hold a token linked to a commercial bank deposit and transfer it between supported networks. Keeta CEO Ty Schenk said, “The future of institutional money isn’t a walled garden.” He said Keeta wants regulated bank money to move across chains instead of remaining inside a closed system.

For institutions, the distinction between tokenized deposits and other fiat-linked tokens is important because it affects the legal claim, redemption process and compliance controls attached to the asset. The announcement frames Keeta Stablecoins as bank-money tokens rather than general-purpose crypto collateral, but it leaves several operational details to be disclosed.

LayerZero provides the cross-chain token standard

Keeta Stablecoins will use LayerZero’s Omnichain Fungible Token Standard. LayerZero’s technical documentation says the OFT model allows one fungible token to exist across several chains while maintaining a single global supply. In a transfer, tokens are removed from circulation on the source network and the same amount is credited on the destination network.

The partnership says the issuing institution will keep contract authority across the supported networks. LayerZero also offers stablecoin controls including transfer restrictions, rate limits, pause functions and separate operational roles. These controls are intended to let an issuer apply internal policies while keeping the token available on more than one blockchain.

Bivo connects deposits and payment rails

Bivo will provide access to U.S. payment rails and its partner-bank network. Keeta identifies Bivo as a licensed money transmitter with NMLS number 2572288. California’s Department of Financial Protection and Innovation also lists Bivo as a regulated money transmitter in the state.

The announcement does not say whether every token holder will receive deposit insurance or hold a direct claim against a named bank. It says only that commercial bank deposits held through Bivo will back the tokens. The companies also did not disclose reserve reporting rules, redemption fees, minimum transaction sizes or the entities that will issue each currency.

The structure differs from many stablecoins that hold cash, Treasury bills or other reserve assets outside a customer deposit account. Keeta and LayerZero still use the term “stablecoins” for the product, but they describe the backing as commercial bank money rather than a mixed reserve portfolio.

Tokenized deposit projects draw wider attention

Banks and crypto firms have tested several forms of tokenized deposits in 2026. JPMorgan and other large U.S. banks have worked on a shared network for tokenized deposits, with a possible 2027 launch. That project would run through a bank-led system rather than distribute deposits across several public chains.

In another model, Custodia Bank and Vantage Bank tested a dual-purpose token that functions as a bank deposit inside their Hazel network and as a stablecoin when it moves outside the network. The Keeta and LayerZero plan instead focuses on issuing several fiat-linked assets across Ethereum, Solana, Base and Keeta from the start.

LayerZero already supports cross-chain distribution for payment and tokenized-asset products. PayPal expanded PYUSD to additional networks through LayerZero infrastructure. Ondo Finance also used LayerZero for cross-chain transfers of tokenized stocks and exchange-traded funds.

Cross-chain systems also carry technical and operational risks. In April, attackers drained about $292 million from Kelp DAO’s rsETH bridge after compromising infrastructure used by a LayerZero verifier. LayerZero said the attack affected Kelp DAO’s single-verifier setup rather than the core protocol. The company later stopped signing messages for applications using one-verifier configurations and urged projects to use several independent verifiers.

Keeta will also add LayerZero as an anchor inside its network. Keeta uses anchors to connect blockchains and traditional payment systems. The company says its network reached 11.2 million transactions per second during a public stress test conducted with Google’s Spanner engineering team, although that result does not represent normal production volume.

The companies have not disclosed launch partners, expected transaction volume or pricing. Their July rollout will test whether institutions want tokenized commercial bank money that can move across public chains while issuers keep control over transfers and compliance settings. Further disclosures on issuing entities, redemption terms, reserve reporting and eligible users will determine how the product is evaluated by institutions comparing public-chain settlement with closed bank-led networks.