The Scoop (because you need to know):
- 🤫 The banks sneaked in Custodia’s Avit stablecoin for redemption. Shh, don’t tell anyone, it’s a game-changer!
- 🚀 Avit: because who needs slow, costly payments when you can have fast, low-cost, and programmable ones, all while keeping the banking grumps happy with their safety and oversight?
Hold your breath, folks! Custodia Bank and Vantage Bank have just pulled off the impossible (or so it seems): they’ve tokenized U.S. dollar demand deposits on the Ethereum mainnet! 🤯
In a daring feat of blockchain wizardry, these banks conjured up and redeemed Custodia’s Avit stablecoins on the Ethereum mainnet. We’re talking regulated test transactions – eight of them, to be exact – involving minting, transferring, and redeeming Avit tokens, all under the watchful eye of U.S. banking compliance (BSA/AML/OFAC, oh my!).
Now, let’s give credit where credit is due: Vantage Bank handled the fiat reserves and traditional banking services (yawn… Fedwire/ACH), while Custodia worked its blockchain magic with issuance, custody, and reconciliation via its trusty Avit Management System. 🎩
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2025-03-25 15:43