VersaBank Kicks Off Tokenized Dollar Deposit Pilot Using Algorand, Ethereum and Stellar

VersaBank Kicks Off Tokenized Dollar Deposit Pilot Using Algorand, Ethereum and Stellar

VersaBank, a Canadian digital bank with a focus on business clients, has started testing a tokenized deposit that the bank says provide a safer and more compliant alternative to stablecoins.The pilot, run through the bank's U.S. subsidiary VersaBank USA, will trial a U.S. dollar version of the bank's blockchain-based Digital Deposit Receipts (DDRs) tech. Each token, branded USDVB, represents one U.S. dollar held on deposit at VersaBank USA.The p…

VersaBank USA launches pilot programme for its USDVBS - Asset Servicing Times

This US dollar version of its proprietary DDRs are developed exclusively by VersaBank and are bank-issued tokenised deposits, which are highly encrypted representations of cash deposits

VersaBank Launches Test of US-Dollar Version of Bank-Issued Tokenized Deposits

VersaBank USA launched an internal pilot program in the United States for the U.S.-dollar version of its bank-issued tokenized deposits.

VersaBank USA Launches Pilot Program To Test USD-Backed Digital Deposit Receipts

North American digital banking institution VersaBank has announced that its US subsidiary, VersaBank USA, has begun an internal pilot program to test its USDVBs, a US dollar version of its proprietary Digital Deposit Receipts (DDRs). These DDRs, developed using the bank’s own technology, are tokenized, bank-issued deposits that represent a one-to-one digital equivalent of cash deposits. They are designed to offer enhanced security, regulatory co…