EOS Network rebrands to Vaulta, aims to merge DeFi with traditional banking
EOS Network rebrands to Vaulta, goals to merge DeFi with venerable banking EOS Network rebrands to Vaulta, goals to merge DeFi with venerable banking
EOS Network's transformation involves a token swap and a Banking Advisory Council to near the merging of venerable finance with DeFi.
Quilt artwork/illustration by job of CryptoSlate. Image involves mixed divulge material that might maybe perchance comprise AI-generated divulge material.
EOS Network announced on March 18 that this can rebrand as Vaulta, marking a strategic shift in direction of web3 banking because it seeks to integrate decentralized skills with venerable financial programs.
The transition, which incorporates a token swap, is scheduled for leisurely Would possibly maybe maybe well 2025, pending affirmation.
The mosey represents years of vogue aimed in direction of leveraging Bitcoinâs rising affect in global finance. Vaulta will field itself as a scalable working machine for web3 banking, offering like a flash transactions, blockchain connectivity, and decentralized data administration.
Vaulta Foundation CEO and founder Yves La Rose said:
“This transformation represents extra than like minded a establish alternate; itâs a decisive step forward in our mission to reveal open, accessible financial rating entry to for everyone.”
Rebrand
As fragment of the rebrand, Vaulta will establish a Banking Advisory Council comprising consultants from both venerable finance and blockchain sectors. The council will provide strategic guidance to bridge the outlet between legacy banking and DeFi.
Participants comprise Lawrence Truong, CEO of Systemic Belief; Didier Lavalle, CEO of Tetra; Alexander Nelson, senior director of digital finance at ATB Financial; and Jonathan Rizzo, senior industry resolution specialist at ATB Financial.
Nelson said:
“Vaultaâs realignment in direction of Web3 Banking is a predominant vogue for the industry. This mosey no longer ideal opens the door for venerable funds to enter DeFi via Bitcoin however additionally paves the style for greater institutional acceptance.”
Vaulta will integrate with exSat, a Bitcoin digital banking resolution, to enhance Bitcoinâs role because the foundation of its decentralized financial ecosystem.
The platformâs technological infrastructure â beforehand developed below EOS â involves C++ tidy contract architecture, a decentralized on-chain RAM database, and multi-chain interoperability facets.
The agency has additionally announced strategic partnerships with Ceffu, Spirit Blockchain, and Blockchain Insurance coverage Inc.
Vaulta goals to agree with four core areas in web3 banking: Wealth Management, User Funds, Portfolio Management, and Insurance coverage. These pillars will allow sleek financial capabilities equivalent to blockchain-native yield generation, exact-world asset (RWA) investments, and customised insurance solutions.
Extra partnerships are anticipated in the arriving months. The token ticker and swap portal open stays honest for leisurely Would possibly maybe maybe well, subject to extra updates.
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Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his abilities worldwide for over a decade. Focusing on financial journalism, he now specializes in crypto reporting.
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