Finance, EOS, Web3 The transition features a token swap and the launch of a banking advisory group.
EOS Network, identified for its scalable blockchain infrastructure, is rebranding to Vaulta because it pivots towards Web3 banking. The transition comes with a token swap that’s provisionally scheduled for the top of May.
It additionally comes with the launch of the Vaulta Banking Advisory Council, a gaggle of monetary and blockchain business specialists centered on bridging the hole between conventional banking and decentralized methods. Members embody executives from Systemic Trust, Tetra, and ATB Financial, in keeping with a press launch shared with CoinDesk.
“Vaulta’s strategic realignment towards Web3 banking is a significant development for the industry,” mentioned Alexander Nelson, senior director of digital finance at ATB Financial. “This move not only opens the door for traditional funds to enter decentralized finance through Bitcoin but also paves the way for greater institutional acceptance.”
Vaulta plans to keep up its technical infrastructure from the EOS Network, together with its sensible contract structure, decentralized database, and inter-blockchain connectivity. The platform will combine with exSat, a Bitcoin-focused digital banking resolution, as a part of its Web3 banking initiative.
The mission, per the discharge, is ready to leverage varied partnerships to broaden its Web3 banking ecosystem, together with with Ceffu, Spirit Blockchain, and Blockchain Insurance. The agency is predicted to announce additional strategic partnerships within the coming months.
“This transformation represents more than just a name change; it’s a decisive step forward in our mission to deliver open, accessible financial access for everyone. Vaulta is the product of years of planning, strategic development, and thoughtful design, culminating in a holistic Web3 banking approach,” mentioned Yves La Rose, founder and CEO of Vaulta Foundation.
The staff described Vaulta’s method to Web3 banking as two-pronged, providing blockchain-based providers tailor-made for banks and neobanks, and providing a broader monetary ecosystem that includes exSat’s Bitcoin banking options, blockchain insurance coverage, tokenized real-world belongings, and extra.
Its community has maintained uninterrupted operation for almost seven years, emphasizing stability as a key think about its method, he added. Advancements within the community’s velocity, safety and interoperability imply the community is “now positioned for mainstream adoption.”
The rebrand comes as regulatory frameworks for digital belongings, together with the European Union’s Markets in Crypto-Assets (MiCA), grow to be extra outlined. La Rose mentioned these developments make it the “right moment” to align Vaulta’s model with its concentrate on Web3 banking.
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