The race for the "everything exchange" makes Wall Street operators and crypto exchanges rivals and partners at the same time.
ZRO, the native token of the omnichain interpretability protocol LayerZero, has skyrocketed more than 40% on the past day following the announcement of its new Layer-1 (L1) blockchain backed by major institutional players. Related Reading: XRP Positioned For Major Structure Shift As Price Tests Critical Level LayerZero Unveils Zero Blockchain On Tuesday, LayerZero Labs announced a new L1 blockchain, Zero, aimed at institutional financial markets. According to the announcement, it is set to launch in fall 2026, with three initial “zones,” described as permissionless environments fully owned and governed by the underlying network. Moreover, ZRO will serve as the network’s native token, providing interoperability between Zones and across the 165+ blockchains it connects. Designed to “eliminate the long-standing scalability challenges of decentralized networks,” Zero is set to process 2 million transactions per second (TPS) per Zone and charge near-zero fees by targeting four primary bottlenecks. “By leveraging Zero-Knowledge (ZK) proofs to decouple execution from verification, Zero transitions the network from redundant replication to a heterogeneous architecture,” LayerZero Labs explained on X. “This structural shift allows for two distinct validator classes: lightweight Block Validators capable of running on low-grade consumer hardware and optional higher performance Block Producers,” it continued. Bryan Pellegrino, CEO of LayerZero Labs, affirmed that Zero’s architecture advances the industry’s roadmap by at least a decade. “We believe we can actually bring the entire global economy onchain with this technology. Our mission is to build permissionless infrastructure for a better world – this is the beginning of that world,” he added. Zero Receives Major Institutional Backing The rollout was backed by key institutional players, including Citadel Securities, The Depository Trust & Clearing Corporation (DTCC), ARK Invest, Google Cloud, and Intercontinental Exchange (ICE). Notably, Citadel Securities is collaborating to evaluate how its technology could apply to trading, clearing, and settlement workflows. Additionally, it made a strategic investment in ZRO. ARK Invest is becoming a shareholder of LayerZero equity and ZRO. Meanwhile, Cathie Wood, the company’s CEO and CIO, joined LayerZero’s new advisory board alongside Michael Blaugrund, VP of Strategic Initiatives at ICE, and Caroline Butler, former head of digital assets at BNY Mellon. “This is a historic opportunity at the intersection of finance and the internet. I am thrilled to join LayerZero’s advisory board and help accelerate the adoption of Zero by the largest markets and companies in the world,” Wood said in a statement. DTCC will investigate the Zero blockchain architecture to enhance the scalability of the DTC Tokenization Service and collateral management, while ICE will examine it for 24/7 trading and tokenized collateral. Moreover, Google Cloud partnered to explore how to enable AI agents to make micropayments and trade resources instantly. Tether also announced a separate strategic investment in LayerZero Labs on Tuesday. ZRO Price Skyrockets Following the news, ZRO soared more than 40% in the last 24 hours, hitting a four-month high of $2.59 on Wednesday morning. The cryptocurrency had been trading between the $1.50 and $2.00 area over the past few weeks, reaching a local low of $1.35 during last week’s crash. Now, the recent momentum has pushed LayerZero back above the $2.00 area and toward a major resistance area. The cryptocurrency has been unable to reclaim the $2.60 mark since June, being rejected from this area after each retest. Related Reading: Bitcoin Could See New Drop To $60,000 Despite Bounce – Here’s The Level To Defend If ZRO reclaims $2.60, it could target the next major resistance, located at around $3.00. Analyst Crypto Tony affirmed that if the cryptocurrency clears this level, “we are good for $3.30. Wave 3 is beginning.” As of this writing, ZRO is trading at $2.45, a 36.5% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Crypto payment platform MoonPay is poised to receive a significant fundraising boost as recent reports suggest that Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), is exploring an investment in the company. According to a Bloomberg report, which cited sources familiar with the discussions, MoonPay is close to finalizing this fundraising round and is targeting a valuation around $5 billion. New Regulatory Approval And Investment Talks Based in New York, MoonPay specializes in simplifying the trading of cryptocurrencies through various payment methods, including PayPal, Apple Pay, and Venmo. The platform also offers tools for users to send, receive, and manage stablecoins. Notably, MoonPay recently obtained a Limited Purpose Trust Charter from the New York Department of Financial Services (NYDFS), a significant regulatory approval that complements its existing BitLicense. Related Reading: Bitwise’s 2026 Crypto Forecast: Bitcoin, Ethereum, And Solana Poised For New Record Highs This charter enables MoonPay to expand its custody and other crypto services within New York, placing the company in league with established players like Coinbase (COIN) and PayPal, which also operate under the state’s strict digital asset regulations. The momentum for MoonPay continues to build, particularly with news that Caroline Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), plans to join the firm as its chief legal and administrative officer. CFTC Chair Caroline Pham to Join MoonPay Pham has been a notable figure in the regulatory landscape, having served on the CFTC’s board since April 2022 and becoming acting chair in January 2025. She announced her intention to return to the private sector once a permanent chair was confirmed, which is expected to happen this week with Mike Selig’s anticipated confirmation. Under Pham’s leadership, the CFTC expedited several initiatives focused on cryptocurrencies, including the allowance for spot crypto trading on futures exchanges and the launch of a digital assets pilot program permitting the use of assets like Bitcoin (BTC) and Ethereum (ETH) in derivatives markets. Additionally, Pham implemented various operational changes within the CFTC, reportedly leading to nearly $50 million in annual savings by enhancing governance and accountability. Related Reading: Optimism Grows In Crypto Market Structure Bill After Wednesday’s Senate Banking Meeting Pham articulated that her agenda as acting chair concentrated on executing a range of presidential executive orders aimed at promoting regulatory clarity and efficiency across government agencies. Reflecting on her decision to join MoonPay, she emphasized the importance of people in her career choices, stating that meaningful connections guide her decisions. Her connection to MoonPay began through a dinner hosted by Christie’s Art + Tech in 2023, where she met MoonPay’s president, Keith Grossman. A conversation that started at the dinner evolved into a friendship and later professional discussions as Pham considered her options post-government. Grossman expressed confidence in Pham’s capabilities, stating, “MoonPay has really matured, and Caroline is the exact type of leader with the exact type of big bank and regulatory experience that’s needed for us to be able to move to the next level.” Featured image from DALL-E, chart from TradingView.com
The investment could help Polymarket return to the U.S. market, after it was shut off to U.S. users in 2022 following a settlement with the CFTC.
The collaboration adds ICE’s market data to Chainlink Data Streams, aiming to support tokenized asset markets.