{"slug": "fireblocks-robinhood-metamask-join-crypto-giants-to-launch-open-transaction", "title": "Fireblocks, Robinhood, MetaMask join crypto giants to launch Open Transaction Layer", "summary": "Fireblocks, Robinhood, MetaMask, and more than 20 other financial and crypto firms launched the Open Transaction Layer (OTL), an open-source initiative establishing shared protocols for identity, messaging, and transaction coordination between institutions, wallets, and AI agents. The alliance aims to replace fragmented bilateral integrations with a unified standard to reduce operational overhead and compliance complexity in digital asset markets. OTL’s specifications are publicly available, with the group inviting broader industry participation to scale onchain finance globally.", "body_md": "# Fireblocks, Robinhood, MetaMask join crypto giants to launch Open Transaction Layer\n\nA collaborative move seeks to streamline coordination among digital asset firms, boosting efficiency and encouraging wider adoption.\n\nFireblocks, Robinhood, MetaMask, and more than two dozen other financial and crypto firms have joined forces to launch the Open Transaction Layer (OTL), an industry-wide effort to build the coordination standard required for onchain finance to scale globally.\n\nOTL establishes shared protocols for identity, messaging, and transaction coordination between institutions, unhosted wallets, and AI-driven agents, according to a Thursday press release.\n\nIn addition to Fireblocks, Robinhood, and MetaMask, the alliance debuted with support from other major players including Checkout.com, FalconX, Wintermute, Cross River Bank, Securitize, SoFi, WalletConnect, and the Blockchain Payments Consortium whose members are TON Foundation, Stellar Development Foundation, Polygon, Solana Foundation, Monad Foundation, Sui Foundation, and Mysten Labs.\n\n## What OTL is trying to solve\n\nOTL targets the lack of interoperability in digital asset markets, where institutions today rely on fragmented bilateral integrations to manage compliance, messaging, and transaction workflows between counterparties and wallet types.\n\nEach new counterparty or market introduces additional operational overhead, compliance complexity, and interoperability challenges.\n\n“Regulated institutions have to build bespoke connections to orchestrate their digital asset operations end-to-end. The result is integration sprawl and parallel systems that don’t reconcile,” Idan Ofrat, Co-Founder and Chief Product Officer at Fireblocks, said in a statement.\n\nOTL wants to address these issues through a unified and interoperable foundation built on established standards including W3C DIDs, IVMS101, ISO 20022, and CAIP-19. The framework is designed to support the complete transaction lifecycle, including discovery, coordination, compliance, and settlement.\n\n“A standard like this isn’t something any single vendor can ship. It only works as an open initiative, built by the people implementing it. This is why we are a founding partner of OTL and inviting the broader industry to collaborate,” Ofrat stated.\n\n## Four technical layers plus one application layer\n\nThe specifications are organized into four technical layers (identity, session, transport, and messaging) topped by a fifth application layer where business logic lives.\n\nThe bottom layers handle who you are, how you connect, and how data moves. The top layer is where you do things like authenticate a payment request or verify which entity controls a given wallet, as explained by the team.\n\nDiscussing the launch, Max Rotham, VP of Crypto at Checkout.com, said the rise of programmable and tokenized commerce is increasing the demand for interoperable coordination standards across the digital asset ecosystem.\n\n“As onchain activity scales, merchants and institutions need clearer ways to identify counterparties, exchange the right transaction context, and coordinate securely across wallets, chains, and jurisdictions. We’re pleased to support OTL as this coordination layer takes shape,” Rotham stated.\n\nOTL’s specifications are publicly available under an open source license at otl.network, with reference implementations expected to roll out over time. The initiative is actively inviting institutions and ecosystem participants to contribute to the standards effort.\n\n**Disclosure:** This article was edited by Vivian Nguyen. For more information on how we create and review content, see our\n\n[Editorial Policy](https://cryptobriefing.com/editorial-policy/).", "url": "https://wpnews.pro/news/fireblocks-robinhood-metamask-join-crypto-giants-to-launch-open-transaction", "canonical_source": "https://cryptobriefing.com/open-transaction-layer-standardize-onchain-finance/", "published_at": "2026-05-28 13:01:37+00:00", "updated_at": "2026-05-28 13:05:49.822793+00:00", "lang": "en", "topics": ["ai-agents", "ai-infrastructure"], "entities": ["Fireblocks", "Robinhood", "MetaMask", "Checkout.com", "FalconX", "Wintermute", "Cross River Bank", "Securitize"], "alternates": {"html": "https://wpnews.pro/news/fireblocks-robinhood-metamask-join-crypto-giants-to-launch-open-transaction", "markdown": "https://wpnews.pro/news/fireblocks-robinhood-metamask-join-crypto-giants-to-launch-open-transaction.md", "text": "https://wpnews.pro/news/fireblocks-robinhood-metamask-join-crypto-giants-to-launch-open-transaction.txt", "jsonld": "https://wpnews.pro/news/fireblocks-robinhood-metamask-join-crypto-giants-to-launch-open-transaction.jsonld"}}