Custodia and Vantage Bank Partner for First Bank-Issued Stablecoin
In a landmark development for the United States banking sector, Custodia Bank and Vantage Bank have announced the issuance of ‘Avit’, the country’s first public bank-issued stablecoin on a permissionless blockchain. This initiative signifies a major step towards integrating blockchain technology within traditional financial institutions, offering a compliant and regulated digital asset solution. Background on Custodia and Vantage Banks Custodia Bank, based in Wyoming, was founded to bridge digital assets and the U.S. dollar payments system while maintaining rigorous institutional custody standards. The bank has been at the forefront of advocating for regulatory clarity in digital banking. https://twitter.com/custodiabank/status/1904494567207891193 Vantage Bank, a community bank headquartered in Texas, provides various financial services and has demonstrated an openness to adopting innovative banking solutions. Its collaboration with Custodia Bank marks a s...