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USBC Partners with Uphold and Vast Bank to Launch the First Retail Tokenized Deposits, Designed to Provide Worldwide Access to U.S. Dollar Deposit Accounts
Globenewswire· 2025-10-23 20:05
Core Viewpoint - USBC, Inc. has announced a strategic partnership with Uphold and Vast Bank to launch the world's first retail tokenized deposit offering, which will provide global access to U.S. dollar-denominated tokenized deposits and accounts, enhancing the future of digital finance [1][5]. Group 1: Partnership Details - The partnership will allow Uphold's customers to open U.S. dollar deposit accounts, enabling the holding and transferring of digital representations of U.S. dollar deposits at Vast Bank on USBC's blockchain starting in 2026 [3]. - A non-binding Memorandum of Understanding (MOU) has been signed to finalize the terms of the partnership, with a definitive agreement expected in Q4 2025, subject to board and regulatory approvals [8]. Group 2: Product Features - USBC tokenized deposits are designed to be compliant with U.S. regulations, offering FDIC insurance eligibility and Reg E protections, distinguishing them from synthetic stablecoins [6][7]. - The product provides three key advantages: unparalleled safety, regulatory confidence, and programmable finance, enabling instant settlement and real-time international payments [7]. Group 3: Strategic Implications - This initiative is expected to accelerate revenue by increasing deposit volumes at Vast Bank and enhancing engagement with retail and institutional clients [6]. - USBC aims to solidify its position as a leader in digital finance by integrating traditional banking protections with blockchain technology, thereby expanding the global influence of the U.S. dollar [5][16].
USBC to Attend Money20/20 USA Conference October 26-29 in Las Vegas
Globenewswire· 2025-10-10 12:00
Core Insights - USBC, Inc. is participating in the Money20/20 USA conference from October 26-29, 2025, in Las Vegas, Nevada, highlighting its strategic initiatives in financial technology [1][2] - The company has recently acquired a public company and is focusing on tokenized deposits as a compliant and programmable digital U.S. dollar solution, backed by an OCC-chartered U.S. bank [2][4] - USBC aims to set new industry standards for tokenized deposits, offering regulatory protections, interest-bearing accounts, and integration with both traditional banking and digital assets [2][3] Company Overview - USBC, Inc. is a publicly traded technology company led by Chairman and CEO Greg Kidd, focusing on transformative financial services, including digital assets and banking solutions [4] - The company has adopted a bitcoin treasury strategy to support development across its various divisions, with a key emphasis on the USBC tokenized deposit offering [4] - USBC is committed to identity, inclusion, innovation, and risk management, aiming to create long-term shareholder value in a rapidly evolving financial landscape [4]