Custodia Bank and Vantage Bank have successfully tokenized U.S. dollar demand deposits on the Ethereum mainnet. They issued and redeemed Custodia’s Avit stablecoins through eight regulated test transactions. These transactions involved minting, transferring, and redeeming Avit tokens, all while adhering to U.S. banking compliance standards, including BSA/AML/OFAC regulations. Vantage Bank managed the fiat reserves and traditional banking services, such as Fedwire and ACH. Meanwhile, Custodia Bank handled the blockchain operations, including issuance, custody, and reconciliation, using its Avit Management System. This achievement marks a significant advancement in blockchain-based banking innovation.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
