Fireblocks, Robinhood, MetaMask, and over two dozen financial and crypto firms have launched the Open Transaction Layer (OTL), aiming to establish a global coordination standard for onchain finance. OTL introduces shared protocols for identity, messaging, and transaction coordination among institutions, unhosted wallets, and AI-driven agents. Key supporters include Checkout.com, FalconX, and the Blockchain Payments Consortium. OTL addresses the interoperability challenges in digital asset markets, where institutions face fragmented integrations for compliance and transaction workflows. The framework is built on standards like W3C DIDs and ISO 20022, supporting the entire transaction lifecycle. The initiative invites industry collaboration to develop its open-source specifications, available at otl.network.