Loon adopts LayerZero OFT for its CADC stablecoin
Loon Finance has selected LayerZero's OFT standard to power cross-chain interoperability for CADC, its Canadian dollar-backed stablecoin, migrating from a legacy solution. Loon collaborated with LayerZero to design a bespoke solution that meets Canadian regulatory requirements.
The selection follows Ontario Securities Commission (OSC) approval allowing Loon to issue a CAD-backed stablecoin. CADC is now available on Ethereum, Base, Polygon, and Solana via LayerZero, with the full announcement shared in a thread on X.
Sources
- Read the full announcement: https://t.co/LH5J967Z30 Replying to their earlier post: Loon's selection of the OFT standard comes after it has received approval from the Ontario Securities Commission (OSC) to issue a CAD-backed stablecoin. @CADCstablecoin is available on Ethereum, Base…x.com ↗
- Loon's selection of the OFT standard comes after it has received approval from the Ontario Securities Commission (OSC) to issue a CAD-backed stablecoin. @CADCstablecoin is available on Ethereum, Base, Polygon, and Solana, via LayerZero. https://t.co/ukPBbR4i8M Replying to their earlier post: .@LoonFinance has selected LayerZero's OFT standard to power cross-chain interoperability for its Canadian dollar-backed stablecoin $CADC. Migrating from a legacy solution, Loon collaborated with Lay…x.com ↗
- .@LoonFinance has selected LayerZero's OFT standard to power cross-chain interoperability for its Canadian dollar-backed stablecoin $CADC. Migrating from a legacy solution, Loon collaborated with LayerZero to design a bespoke solution that satisfied the unique regulatory, https://t.co/FEVsvI3DLTx.com ↗
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