Vaulta, a name now representing the transition from EOS Network, steers towards a future centered around Web3 banking. This shift involves a planned token swap, estimated to take place at the end of May. The introduction of the Vaulta Banking Advisory Council also accompanies this strategic change. This council gathers industry experts from both financial and blockchain fields, aiming to merge traditional banking practices with decentralized technologies.
Executives from Systemic Trust, Tetra, and ATB Financial comprise the council. They bring their extensive experience to guide the integration of blockchain technology into everyday banking. Alexander Nelson, a senior figure from ATB Financial, emphasized the significance of this transition for the financial ecosystem. By incorporating Bitcoin into Vaulta’s services, the shift makes it possible for established financial entities to enter the world of decentralized finance.
Vaulta plans to retain and build upon its technical foundations from the former EOS Network. These include decentralized databases, smart contract capabilities, and connections across different blockchains. As part of the Web3 banking initiative, Vaulta will collaborate with exSat, a Bitcoin-focused digital banking service, to broaden the scope of its offerings.
To bolster its decentralized finance strategies, Vaulta is forming strategic collaborations. Partners like Ceffu, Spirit Blockchain, and Blockchain Insurance will help expand Vaulta’s reach. Further alliances are expected to be announced, enhancing their network in blockchain technology and financial services.
Yves La Rose, the brain behind the Vaulta Foundation, stated that this overhaul is more than rebranding—it’s a leap toward delivering inclusive financial solutions. The enduring stability of the network, maintaining operations without interruption for almost seven years, underscores their commitment to reliability. The network now boasts improved speed, security, and cross-network compatibility, making it ready for broader adoption.
Emerging regulatory guidelines for digital assets, especially the European Union’s Markets in Crypto-Assets (MiCA), have set a clear path for Vaulta’s alignment with existing regulations. This timing appears ideal as the company positions itself at the forefront of Web3 banking.
The dual approach focuses on both banks and neobanks, aiming to provide a seamless pathway for traditional finance structures to transition into the decentralized landscape. Innovative services such as blockchain insurance and digital assets are part of a broader effort to redefine what banking means in a Web3 environment. By embracing these innovations, Vaulta aspires to connect traditional finance with the emerging world of decentralized technologies.
