MetaMask, Robinhood and other institutions jointly launch OTL to promote unified transaction standards for on chain finance BlockBeats News: On May 29th, the Open Transaction Layer (OTL) was officially announced to be launched, aiming to establish a unified transaction coordination standard for on chain finance. This project is led by Fireblocks、MetaMask、Robinhood、Securitize、zerohash、Cross River Bank、(Checkout.com) Wait for institutions to jointly initiate. OTL will provide open protocols for identity authentication, messaging, and transaction coordination, supporting compliant transactions between financial institutions, non custodial wallets, and AI agents. The main obstacle to the large-scale adoption of on chain finance at present is not the insufficient blockchain infrastructure, but the lack of a unified coordination layer. At present, institutions need to integrate separately for each counterparty, jurisdiction, and application scenario, resulting in increasing costs. OTL is built based on existing standards such as W3C DID, IVMS101, ISO 20022, CAIP-19, covering the complete transaction process of discovering counterparties, coordinating transactions, compliance checks, and settlements. The initiator members also include FalconX, MoonPay, WalletConnect, Wintermute, eToro, SoFi, as well as ecological institutions such as TON Foundation, Solana Foundation, Sui Foundation, Polygon, Monad Foundation, etc. [Original link]