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Chain-agnostic stablecoin protocol defi.money has integrated LayerZero to bring omnichain liquidity to its network. 
LayerZero (<a rel="" href="https://crypto.news/price/layerzero/">ZRO</a>) is an interoperability solution that offers a foundational layer for omnichain applications and blockchains. The LayerZero team announced the integration in a <a href="https://x.com/LayerZero_Core/status/1839333995743686808" target="_blank">post on X</a> on Sept. 26. 
The integration comes as defi.money’s stablecoin MONEY implemented the omnichain fungible token, also known as OFT. 
The OFT Standard is a token standard that allows for cross-chain token transfers. Users can send, receive, and deploy assets across blockchains. With this implementation, defi.money is now natively omnichain. 
 Read more: <a rel="" href="https://crypto.news/layerzero-becomes-bitgos-official-interoperability-protocol-for-wbtc/"> LayerZero becomes BitGo’s official interoperability protocol for WBTC </a> 
<h2 class="wp-block-heading" id="growing-stablecoin-market">Growing stablecoin market</h2> 
Stablecoins are increasingly critical to the web3 ecosystem, and cross-chain transfers are helping to drive more activity in key projects. Many of the beneficiaries are layer-2 networks, which, beyond eyeing scalability, see an interconnected ecosystem as a major step toward decentralization. 
LayerZero’s collaboration with defi.money aims to bring this era into reality with the decentralized stablecoin MONEY. 
With the stablecoin market valued at over $173 billion as of Sept. 26, 2024, two companies stand out – Tether and Circle. Tether (<a rel="" href="https://crypto.news/price/tether/">USDT</a>) is the largest, with over $119 billion of the total market cap while USD Coin (<a rel="" href="https://crypto.news/price/usd-coin/">USDC</a>) ranks as the second-largest, at over $36 billion. 
However, other players such as First Digital USD (<a rel="" href="https://crypto.news/price/fdusd/">FDUSD</a>) and PayPal USD (<a rel="" href="https://crypto.news/price/pyusd/">PYUSD</a>) are seeing traction. 
Also notable is the entry of Ripple, which has <a rel="" href="https://crypto.news/ripple-begins-testing-rlusd-stablecoin-on-ethereum-and-xrp/">begun testing its RLUSD stablecoin</a> on the Ethereum and XRP Ledger. 
BitGo, a leading crypto custodian, is also eyeing a dollar-backed stablecoin and similar plans are <a rel="" href="https://crypto.news/revolut-sizes-up-stablecoin-play-like-ripple/">reportedly</a> on U.K-based digital bank Revolut’s table. 
 You might also like: <a rel="" href="https://crypto.news/blackrock-and-securitize-back-ethenas-new-stablecoin/"> BlackRock and Securitize back Ethena’s new stablecoin </a>

Defi.money integrates LayerZero as interoperability solution

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