MetaMask, Robinhood, and Others Launch OTL to Standardize On-Chain Financial Transactions

Huo Xing Finance reports that on May 29, the Open Transaction Layer (OTL) officially launched, aiming to establish a unified standard for transaction coordination in on-chain finance. The project was initiated jointly by Fireblocks, MetaMask, Robinhood, Securitize, zerohash, Cross River Bank, Checkout.com, and others. OTL will provide open protocols for identity verification, messaging, and transaction coordination, enabling compliant transactions between financial institutions, non-custodial wallets, and AI agents. The primary barrier to large-scale adoption of on-chain finance is not insufficient blockchain infrastructure, but rather the lack of a unified coordination layer. Currently, institutions must integrate separately with each counterparty, jurisdiction, and use case, leading to escalating costs. OTL is built upon existing standards such as W3C DID, IVMS101, ISO 20022, and CAIP-19, covering the entire transaction workflow—including counterparty discovery, transaction coordination, compliance checks, and settlement. Additional founding members include FalconX, MoonPay, WalletConnect, Wintermute, eToro, SoFi, and ecosystem organizations such as the TON Foundation, Solana Foundation, Sui Foundation, Polygon, and Monad Foundation.