LayerZero will launch a new blockchain called "Zero" for traditional finance, with Citadel, ICE, and Cathie Wood involved.

PANews reported on February 11th that, according to Fortune magazine, LayerZero, a cross-chain protocol backed by Andreessen Horowitz (a16z) and Sequoia Capital, announced the launch of a new blockchain called "Zero" designed specifically for traditional finance, and has already secured support from several major Wall Street institutions. The Zero blockchain aims to achieve a processing capacity of 2 million transactions per second at a cost of less than one cent per transaction through breakthroughs in zero-knowledge proof technology, addressing the high throughput and low cost demands of the traditional financial system. The company plans to officially launch the network in September.

Citadel Securities, ARK Invest founder Cathie Wood, and the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, have participated in the project as investors, partners, or advisors. Stablecoin issuers Tether and ARK Invest have also confirmed their investment in LayerZero. LayerZero co-founder Bryan Pellegrino stated that bringing in these institutions with deep experience in market structure aims to drive the large-scale adoption of blockchain technology on Wall Street.