"Tether boosted profits sharply with our technology"…LayerZero CEO sends a 'love call' to South Korea’s financial sector

"Tether, the world’s largest stablecoin issuer, increased assets under management (AUM) by $11 billion (about ₩16 trillion) just nine months after adopting LayerZero’s solution. On an annualized basis, that translates to roughly ₩600 billion in revenue."

Brian Pellegrino, co-founder of LayerZero, sent a 'love call' to South Korea’s financial sector. Based on the successful collaboration case with Tether, the company is considering entering the won-denominated stablecoin and real-world asset (RWA) markets.

On the 11th, Pellegrino joined the LayerZero press conference held at the Glad Hotel in Yeouido, Seoul, via video, saying, "South Korea has such a high level of fintech that it is called 'Asia’s financial hub,' and the pace of crypto adoption is very fast," adding, "Beyond short-term partnerships, we want to work with Korean companies that aim to create meaningful change through blockchain."

Pellegrino explained, "Most issuers want to stay only on major chains with deep liquidity. Tether, too, previously issued stablecoins mainly on three chains—Ethereum, Tron and Ton. But through its collaboration with LayerZero, it expanded the number of stablecoin issuance chains to 16 in just nine months."

According to LayerZero, the additional assets that flowed into the Tether ecosystem through this amounted to $11 billion. Pellegrino said, "This led directly to an increase in the issuer’s revenue (an annual $400 million to $450 million)," adding, "It proved that expanding technical infrastructure translates straight into top-line growth."

LayerZero plans to apply this same success formula to the Korean market as well. In particular, it cited won-based stablecoins and RWA areas such as tokenized securities as key targets.

Pellegrino said, "A core challenge for won stablecoin issuers is also 'how to expand liquidity as quickly and safely as possible,'" adding, "Based on LayerZero’s technical strengths—cost efficiency and transfer speed—we are confident we can solve this difficult problem."

He added, "Just as Tether thought deeply about the reasons for and effects of adopting the technology, we are having discussions of the same depth with Korean financial institutions," emphasizing, "We are open to collaboration with any company that wants to lead the market."