Fireblocks, Robinhood, and MetaMask launch standard for on-chain finance.

Fireblocks, Robinhood, and MetaMask announced the launch of Open Transaction Layer (OTL), an initiative created by cryptocurrency companies and financial institutions to establish a coordination standard for on-chain finance on a global scale.

The project brings together more than two dozen companies linked to the digital asset market. Participants include Checkout.com, FalconX, Wintermute, Cross River Bank, SoFi, WalletConnect, Securitize, and members of the Blockchain Payments Consortium, including TON Foundation, Polygon, MoonPay, Solana Foundation, Stellar Development Foundation, Monad Foundation, Sui Foundation, and Mysten Labs.

According to the statement released by the companies, OTL was developed to create shared protocols for identity, messaging, and transaction coordination. The focus is on enabling more efficient integration between regulated institutions, non-custodial wallets, and artificial intelligence-based systems.

The proposal emerges amidst the growth of on-chain operations, which still face challenges related to interoperability between platforms, blockchains, and service providers. Currently, many companies rely on separate bilateral integrations to meet regulatory requirements and process transactions between different types of wallets.

“Regulated institutions need to build customized connections to orchestrate their end-to-end digital asset operations. The result is a proliferation of parallel integrations and systems that don’t harmonize,” said Idan Ofrat, co-founder and chief product officer of Fireblocks, in a statement.

MoonPay is proud to be a founding partner of the Open Transaction Layer

OTL is a shared standard and infrastructure for identity, compliance, and settlement coordination

— MoonPay 🟣 (@moonpay) May 28, 2026

The OTL infrastructure utilizes industry-standard guidelines, including W3C DIDs, IVMS101, ISO 20022, and CAIP-19. According to the organizers, the system was designed to provide complete support for the transaction lifecycle, encompassing counterparty discovery, operational coordination, regulatory compliance, and settlement.

“A standard like this is not something a single vendor can implement. It only works as an open initiative, built by the people who implement it. That’s why we are one of the founding partners of OTL and invite the entire industry to collaborate,” said Ofrat.

The technical specifications of the Open Transaction Layer were divided into four main layers: identity, session, transport, and messaging. There is also a fifth layer dedicated to business logic and applications developed on top of the infrastructure.

Commenting on the initiative, Max Rotham, vice president of cryptocurrencies at Checkout.com, highlighted that the expansion of tokenized commerce is increasing the need for interoperable standards within the crypto market.

“As on-chain activity increases, merchants and institutions need clearer ways to identify counterparties, exchange the correct transaction context, and securely coordinate across wallets, blockchains, and jurisdictions. We are pleased to support OTL as this coordination layer consolidates,” Rotham stated.

The OTL specifications are already publicly available under an open-source license on the project's official portal. The expectation is that new reference implementations will be released gradually to encourage adoption among financial sector companies and cryptocurrency platforms.