OKX taps Tether-backed USDT0 to unify stablecoin liquidity across X Layer, wallet, and exchange

OKX said it will integrate USDT0, Tether’s “unified liquidity” version of the USDT stablecoin, across its Ethereum Layer 2 network X Layer, as well as the OKX Wallet and centralized exchange, allowing customers to deposit and withdraw USDT0 directly and move funds across supported rollups without using crypto bridges.

The rollout gives OKX’s more than 80 million customers access to pooled stablecoin liquidity across USDT0-enabled networks including Arbitrum, Optimism, Unichain, Polygon, and Berachain, according to a Tuesday press release.

Built on LayerZero’s Omnichain Fungible Token (OFT) standard, USDT0 is described as 1:1 verifiable and backed by canonical USDT. The transfers are designed to settle faster and route more seamlessly between chains.

For OKX users, the integration is meant to bridge centralized and decentralized venues, enabling direct movement of stablecoin liquidity between the exchange and onchain markets while preserving X Layer’s lower fees and Ethereum compatibility.

USDT0 activity has accelerated since launch, the firms noted, citing $11.3 billion in cumulative “bridge volume,” over 251,000 cross-chain transfers, and nine chain pathways supported to date.

“Stablecoins are becoming the backbone of onchain finance,” said USDT0 co-founder Lorenzo R. OKX founder and CEO Star Xu called X Layer “the new money chain,” positioning the partnership as a way to offer omnichain liquidity at scale without fragmenting USDT across wrapped versions.

X Layer is fully integrated into OKX’s product suite and targets low-cost, high-throughput settlement while connecting into the broader Ethereum ecosystem. OKX said broadening USDT0 support across its stack is part of a multichain infrastructure push aimed at mainstream stablecoin adoption.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures .

LATEST CRYPTO NEWS

Naver and Upbit to pour $7 billion into AI, blockchain following mega-merger: reports

Upbit suffers $37 million hack on Solana assets, halts withdrawals

Bitcoin rebounds above $91,000 as December rate cut odds rise

SpaceX transfers $105 million in bitcoin to unmarked wallets: Arkham

OKX taps Tether-backed USDT0 to unify stablecoin liquidity across X Layer, wallet, and exchange

Quick Take

Subscribe for Premium Content

RATINGS

Crypto infrastructure firm Taurus becomes custodian and super validator for Canton Network