Tether makes strategic investment in LayerZero Labs

Tether, the issuer of the world's largest stablecoin USDT, announced on Feb. 10 that it has made a strategic investment in interoperability protocol developer LayerZero Labs. The specific investment amount was not disclosed. In a statement, Tether said the investment supports the development of LayerZero's proven interoperability infrastructure, which is used across the digital asset ecosystem. The company noted that Evadore Labs has utilized this infrastructure to launch products including USDt and XAUt0. It added that in less than 12 months since its launch, USDt has facilitated $70 billion in cross-chain value transfers. According to Tether, LayerZero's interoperability infrastructure can reduce liquidity fragmentation and improve efficiency within the blockchain ecosystem.