LayerZero Acquires Cross-Chain Platform Stargate for $110 Million

LayerZero, a blockchain messaging protocol known for its interoperability solutions, has successfully acquired cross-chain platform Stargate in a significant acquisition deal. The purchase, valued at $110 million, was finalized after a fierce bidding war that involved competitors like Wormhole, Axelar, and Across Protocol. This move marks a crucial milestone for LayerZero as it enhances its network effects and positions itself as a leader in cross-chain messaging and liquidity.