Press release
BAZAARS LAUNCHES ORC-55 MULTI-CHAIN CRYPTOCURRENCY TOKEN STANDARD; BZR TOKEN FIRST TO IMPLEMENT
LONDON, 28th Jan 2026 - Bazaars today announced the launch of ORC-55, a multi-chain cryptocurrency token standard designed to address interoperability challenges in the blockchain industry. The companys BZR utility token has been upgraded to become the first token to implement the ORC-55 standard.
According to Hackens 2024 Web3 Security Report, the cryptocurrency industry experienced $2.9 billion in losses during 2024. Bridge protocols, which facilitate token transfers between blockchains by locking assets on one network and issuing equivalent versions on another, represented a portion of these losses. ORC-55 offers an alternative approach by enabling tokens to operate natively across 10 blockchain networks: Ethereum, BNB Chain, Polygon, Arbitrum, Avalanche, Base, zkSync Era, Optimism, Cronos, and Mantle.
Weve taken a fundamentally different approach to how tokens can work across multiple blockchains, said Raja Al-Khatib, Co-Founder and CEO of Bazaars. "Instead of requiring users to move tokens between networks through bridges, ORC-55 tokens are already present on all supported chains. Users can interact with their tokens wherever it makes the most sense for them at any given time."
The standard is designed to support the companys decentralized marketplace operations across 87 countries. For crypto-commerce applications, users can choose to transact on whichever blockchain offers preferable transaction fees or processing speeds at a given time. Because ORC-55 tokens exist natively across all supported networks, a user holding tokens on one blockchain can interact with those same tokens on any other supported blockchain without requiring bridge protocol conversions.
The ORC-55 standard includes several technical features. The standard does not include administrative functions after deployment, meaning no entity can modify the contract or create additional tokens post-launch. The token supply can only decrease through programmatic burns, with supply changes tracked across all supported networks. The standard implements allowance mechanisms designed to address certain transaction timing considerations. Token metadata is stored on-chain rather than relying on external servers.
The blockchain interoperability market is projected to grow from $0.3 billion in 2023 to $1.0 billion by 2028, according to research published by MarketsandMarkets in July 2023. This growth is attributed to increasing demand for cross-chain cryptocurrency transactions and the expansion of blockchain-based commerce applications.
The ORC-55 standard and BZR token implementation launched today across all 10 supported blockchain networks. BZR is currently listed on MEXC, BitMart, and Coinstore exchanges. The token is compatible with Trust Wallet, MetaMask, Trezor, and Ledger wallet platforms. Bazaars reports it is in discussions with additional platforms regarding ORC-55 integration.
Bazaars plans to release the ORC-55 technical specification as open-source in Q2 2025. The company states this will enable other projects to evaluate and potentially implement the standard.
Bazaars operates a decentralized marketplace platform utilizing blockchain technology for peer-to-peer commerce. The platform uses BZR tokens for transactions. Technical documentation and additional information are available at https://bazaars.io or via Twitter @BazaarsHQ.
Contact Details
Organization: Bazaars
Contact Person: Sarah Davies
Website: https://bazaars.app
Email: media@bazaars.app
Address: Bazaars Limited, Intershore Chambers, Road Town, Tortola, British Virgin Islands
Country: Virgin Islands (British)
Release Id: 28012640652
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