Custodia Bank and Vantage Bank Tokenize U.S. Dollar Demand Deposits on Ethereum
Custodia Bank and Vantage Bank have successfully tokenized U.S. dollar demand deposits on the Ethereum mainnet by issuing and redeeming Custodia's Avit stablecoins.
- Eight regulated test transactions were conducted, including minting, transferring, and redeeming Avit tokens.
- Transactions complied with U.S. banking regulations, including BSA/AML/OFAC.
- Vantage Bank managed fiat reserves and traditional banking services.
- Custodia oversaw blockchain functions such as issuance and custody through the Avit Management System.