Core Insights - Custodia Bank and Vantage Bank Texas have launched a live platform for tokenized deposits, transitioning from a pilot to a nationwide network for U.S. banks [1] - The tokens issued are compliant with U.S. banking laws and recognized as deposit instruments under the GENIUS Act [2] Functionality - The tokens function as digital dollars, fully insured by the FDIC when held by participating banks, and behave like stablecoins when transferred to other institutions or wallets [3] - The platform utilizes a patent-pending protocol that combines on-chain and off-chain controls for managing token conversions [4] Infrastructure and Philosophy - The new platform is designed for real-world transactions and operates on a permissionless network, with initial tests conducted on Ethereum and future plans for Bitcoin [5] - The approach emphasizes open access and interoperability, contrasting with major stablecoin issuers that often create proprietary systems [6] Market Impact - The initiative creates a compliant settlement layer that facilitates the movement of insured dollars at blockchain speed while maintaining safety [7]