OKX Bridges DeFi and CEX with USDT0’s Cross-Chain Power

OKX has announced expanded support for the USDT0 stablecoin across multiple blockchain networks, both on its trading platform and OKX Wallet, as part of a collaboration with Tether. The integration covers OKX’s Ethereum Layer 2 network, X Layer, and will allow users to deposit and withdraw USDT0 directly from the OKX ecosystem. This move aims to unlock unified and cross-chain liquidity across major decentralized finance (DeFi) ecosystems. Users will also gain access to stablecoin liquidity on various networks supported by USDT0, including Arbitrum, Optimism, Unichain, Polygon, and Berachain.

The integration of USDT0 on OKX is part of a broader effort to streamline cross-chain transactions and reduce the friction traditionally associated with stablecoin use in decentralized environments. Lorenzo R., co-founder of USDT0, emphasized the importance of this collaboration, stating that stablecoins are increasingly becoming the backbone of on-chain finance. He added that the expansion allows developers and users to access liquidity in a more intuitive and scalable manner. Star Xu, CEO of OKX, highlighted that the integration provides customers with stable omnichain liquidity on the most commonly used blockchain networks, further bridging centralized and decentralized finance.

USDT0 is a stablecoin built on LayerZero’s Omnichain Fungible Token (OFT) standard, with each transfer verifiable and backed 1:1 by canonical USDT. In less than a year, USDT0 has facilitated over 251,000 cross-chain transfers with a total bridge volume exceeding $11.3 billion, making it one of the most active OFTs in the LayerZero ecosystem. By enabling USDT0 on OKX, the exchange is offering its 80 million global users faster and more seamless cross-chain transactions, as well as the ability to transfer liquidity between centralized and decentralized markets without the need for bridges or wrapped tokens.

X Layer, OKX’s Ethereum Layer 2 network, is a critical component of the integration. It is fully integrated into the OKX product suite and serves as a bridge to the broader Ethereum ecosystem. The integration of USDT0 on X Layer and other OKX-supported chains enhances access to a reliable stablecoin while reinforcing OKX’s position as a full-stack multichain infrastructure provider. The move also aligns with OKX’s ongoing efforts to expand its decentralized infrastructure and support the growing demand for cross-chain interoperability.

The announcement of USDT0 support on OKX’s platforms followed a significant update to the OKB token, the native token of OKX. Just an hour after the update was announced, OKB’s price surged by 170%, rising from $47 to $126. On August 22, OKX executed a one-time burning of over 65 million OKB tokens, reducing the total supply to 21 million, after which the token reached a new all-time high of over $255. As of the latest data, OKB is trading at $188.89, representing a 306% increase compared to a month ago.