Axelar Developer Interop Labs Joins Stablecoin Standard to Advance Global Stablecoin Accessibility & Interoperability
LONDON – JAN. 30, 2025 – Stablecoin Standard, the industry body for stablecoin issuers, today announced it has formed a strategic partnership with Interop Labs, initial developer of Axelar Network. As blockchain interoperability leaders, Interop Labs brings expertise that will help bring stablecoin access to blockchain ecosystems and economies across the globe.
"Stablecoins have opened the door, enabling access to financial products and currencies, so that people all over the world can benefit," said Sergey Gorbunov, CEO of Interop Labs and co-founder of the Axelar protocol. "Stablecoin Standard has been the voice of this change with world financial regulators, and Interop Labs is honored to join the effort to preserve and extend stablecoin access at a global scale through interoperability-preserving regulation and technology standards."
Axelar delivers scale for stablecoin leaders
Movement across various blockchains has been a key growth driver for stablecoins, and Axelar has supported that growth trajectory for leaders including Circle and Ondo. Axelar's Interchain Token Service (ITS) allows stablecoins to move across blockchains as native assets, without relying on wrapped assets, which create confusion and fragment liquidity. As a result of the partnership between Stablecoin Standard and Interop Labs, stablecoin issuers everywhere will have access to this technology and expertise.
"We at Stablecoin Standard hope to collaborate closely with Interop Labs and our Issuer Members to scale their stablecoin issuance beyond the chains that they currently support," said Christian Walker, chairman & co-founder of Stablecoin Standard. "The Axelar network has the technology stack to make this process efficient and simple for issuers, and accomplish our shared goals of global access to the benefits stablecoins can bring."
Stablecoin interoperability compliance
In a recent white paper and an op-ed in American Banker, Interop Labs Head of Legal and Policy Jason Rozovsky and leading blockchain lawyer Lewis Rinaudo Cohen developed concepts to help regulators turn decentralized interoperability to their advantage. Regulators can use programmable interoperability and the properties of open blockchains, the paper argues, to accomplish objectives of stability, safety and transparency across financial systems with global reach.
"We invite regulators and policymakers to work with industry to develop standards at the programmatic layer of decentralized interoperability,” Rozovsky said. “We’re excited to work with SBS’ experienced policy team to help ensure that common-sense standards are developed and promulgated across the broader blockchain ecosystem, and look forward to helping provide our perspective from the very important vantage point of decentralized interoperability.”
As Stablecoin Standard Issuer Members expand into new markets, Interop Labs is committed to contributing to regulatory clarity and compliance in regions across the globe. Together, Stablecoin Standard and Interop Labs will work with the Members to engage regulators on stablecoin interoperability and its related regulatory and compliance concerns.
About Axelar
Axelar is the Web3 interoperability platform, delivering the shortest path to scale: an open stack to connect all blockchains. Adopters include Uniswap, Microsoft and dozens of natively multichain startups, building applications to reach all blockchain users at once. Axelar supports a best-in-class developer stack on a cross-chain layer that is open, scalable and secure. Backers include Binance, Coinbase, Dragonfly, Galaxy and Polychain. Learn more: axelar.network.
About Interop Labs
Interop Labs is a systems and product development company dedicated to enabling an open, interconnected Web. The company was founded in 2021 on the belief that open-source, heterogeneous, interconnected systems have the power to nurture innovation and creativity for the betterment of all humankind. Interop Labs builds, invests in and incubates innovative projects pushing the boundaries of blockchain interoperability, cryptography and machine learning – including as a core contributor to the Axelar network, a leading interoperability protocol. Learn more: interoplabs.io.
About Stablecoin Standard
Stablecoin Standard the industry body for stablecoin issuers globally, focused on real world applications for stablecoins. We share international best practices, business development use cases, industry led working groups, define what a high-quality liquid stablecoin should look like, and engage with policymakers domestically & internationally. Learn more: https://stablecoinstandard.com/