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What happened?
Libre has integrated with LayerZero, a protocol that allows tokenized funds to be used across 120 blockchains. The integration uses LayerZero’s Omnichain Fungible Token Standard, ensuring a unified supply of Libre’s assets across these chains. This enhancement brings institutional funds on-chain, offering better interoperability and cross-chain liquidity.
Who does this affect?
This development primarily impacts institutional investors who utilize Libre’s platform for managing tokenized funds. By enabling access to over 120 different blockchain networks, these users can move funds and assets more flexibly without worrying about interoperability issues. Additionally, developers and partners on these blockchains will benefit from increased liquidity and new opportunities for collaboration.
Why does this matter?
The integration is significant for the market as it represents a step toward greater efficiency and fluidity in blockchain-based financial transactions. As institutional funds can now easily traverse multiple blockchain ecosystems, this could lead to increased market activity and liquidity. The use of LayerZero’s protocol also signals growing confidence in cross-chain solutions, potentially driving innovation and competition across the crypto industry.
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