Custodia, Vantage Bank Tokenize U.S. Dollar Demand Deposits on Ethereum
Custodia Financial institution and Vantage Financial institution have accomplished the tokenization of U.S. greenback demand deposits on the Ethereum mainnet.
The banks issued and redeemed Custodia’s Avit stablecoins on the Ethereum mainnet, marking a serious milestone in blockchain-based banking innovation.
They performed a collection of eight regulated take a look at transactions, involving minting, transferring, and redeeming Avit tokens beneath full U.S. banking compliance, together with BSA/AML/OFAC rules.
Vantage Financial institution dealt with fiat reserves and conventional banking providers (Fedwire/ACH), whereas Custodia oversaw blockchain capabilities comparable to issuance, custody, and reconciliation via its Avit Administration System.
Disclaimer: Elements of this text had been generated with the help from AI instruments and reviewed by our editorial crew to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
