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EOS announced a renaming to Vaulta, with a focus on Web3 banking business
Financial reports, EOS Network announced its transformation into Web3 banking business, rebranding as Vaulta, on one hand, providing blockchain-based services tailored for banks; on the other hand, offering a broader financial ecosystem, including exSat's Bitcoin banking solution, blockchain insurance, tokenized real-world assets, etc.
This transformation includes token exchange, scheduled to take place at the end of May. In addition, Vaulta will also establish a Banking Advisory Committee, composed of experts from the financial and blockchain industries, dedicated to bridging the gap between traditional banking operations and Web3, with members including executives from Systemic Trust, Tetra, and ATB Financial.
Vaulta plans to retain the EOS network's technological infrastructure, including smart contract architecture, decentralized database, and cross-chain connectivity, as part of the Web3 banking plan. The platform will integrate with exSat, a digital banking solution focused on Bitcoin, as part of the Web3 banking plan.
In addition, Vaulta also plans to collaborate with Ceffu, Spirit Blockchain, and Blockchain Insurance, and is expected to announce strategic partnerships in the coming months.