3 months ago
EOS Network, known for its scalable blockchain infrastructure, is rebranding to Vaulta arsenic it pivots toward Web3 banking. The modulation comes with a token swap that is provisionally scheduled for the extremity of May.
It besides comes with the motorboat of the Vaulta Banking Advisory Council, a radical of fiscal and blockchain manufacture experts focused connected bridging the spread betwixt accepted banking and decentralized systems. Members see executives from Systemic Trust, Tetra, and ATB Financial, according to a property merchandise shared with CoinDesk.
"Vaulta's strategical realignment towards Web3 banking is simply a important improvement for the industry," said Alexander Nelson, elder manager of integer concern astatine ATB Financial. "This determination not lone opens the doorway for accepted funds to participate decentralized concern done Bitcoin but besides paves the mode for greater organization acceptance."
Vaulta plans to support its method infrastructure from the EOS Network, including its astute declaration architecture, decentralized database, and inter-blockchain connectivity. The level volition integrate with exSat, a Bitcoin-focused integer banking solution, arsenic portion of its Web3 banking initiative.
The project, per the release, is acceptable to leverage assorted partnerships to grow its Web3 banking ecosystem, including with Ceffu, Spirit Blockchain, and Blockchain Insurance. The steadfast is expected to denote further strategical partnerships successful the coming months.
“This translation represents much than conscionable a sanction change; it's a decisive measurement guardant successful our ngo to present open, accessible fiscal entree for everyone. Vaulta is the merchandise of years of planning, strategical development, and thoughtful design, culminating successful a holistic Web3 banking approach,” said Yves La Rose, laminitis and CEO of Vaulta Foundation.
The squad described Vaulta’s attack to Web3 banking arsenic two-pronged, offering blockchain-based services tailored for banks and neobanks, and offering a broader fiscal ecosystem featuring exSat’s Bitcoin banking solutions, blockchain insurance, tokenized real-world assets, and more.
Its web has maintained uninterrupted cognition for astir 7 years, emphasizing stableness arsenic a cardinal origin successful its approach, helium added. Advancements successful the network’s speed, information and interoperability mean the web is “now positioned for mainstream adoption.”
The rebrand comes arsenic regulatory frameworks for integer assets, including the European Union’s Markets successful Crypto-Assets (MiCA), go much defined. La Rose said these developments marque it the “right moment” to align Vaulta’s marque with its absorption connected Web3 banking.
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