Fireblocks, Robinhood, MetaMask, and more than two dozen other financial and crypto firms have joined forces to launch the Open Transaction Layer (OTL), an industry-wide effort to build the coordination standard required for onchain finance to scale globally.
OTL establishes shared protocols for identity, messaging, and transaction coordination between institutions, unhosted wallets, and AI-driven agents, according to a Thursday press release.
In addition to Fireblocks, Robinhood, and MetaMask, the alliance debuted with support from other major players including Checkout.com, FalconX, Wintermute, Cross River Bank, Securitize, SoFi, WalletConnect, and the Blockchain Payments Consortium whose members are TON Foundation, Stellar Development Foundation, Polygon, Solana Foundation, Monad Foundation, Sui Foundation, and Mysten Labs.
What OTL is trying to solve
OTL targets the lack of interoperability in digital asset markets, where institutions today rely on fragmented bilateral integrations to manage compliance, messaging, and transaction workflows between counterparties and wallet types.
