EOS Network, known for its scalable blockchain infrastructure, is rebranding to Vaulta as it pivots toward Web3 banking. The transition comes with a token swap that is provisionally scheduled for the end of May.
It also comes with the launch of the Vaulta Banking Advisory Council, a group of financial and blockchain industry experts focused on bridging the gap between traditional banking and decentralized systems. Members include executives from Systemic Trust, Tetra, and ATB Financial, according to a press release shared with CoinDesk.
“Vaulta’s strategic realignment towards Web3 banking is a significant development for the industry,” said Alexander Nelson, senior director of digital finance at ATB Financial. “This move not only opens the door for traditional funds to enter decentralized finance through Bitcoin but also paves the way for greater institutional acceptance.”
Vaulta plans to maintain its technical infrastructure from the EOS Network, including its smart contract architecture, decentralized database, and inter-blockchain connectivity. The platform will integrate with exSat, a Bitcoin-focused digital banking solution, as part of its Web3 banking initiative.
The project, per the release, is set to leverage various partnerships to expand its Web3 banking ecosystem, including with Ceffu, Spirit Blockchain, and Blockchain Insurance. The firm is expected to announce further strategic partnerships in the coming months.
“This transformation represents more than just a name change; it’s a decisive step forward in our mission to deliver open, accessible financial access for everyone. Vaulta is the product of years of planning, strategic development, and thoughtful design, culminating in a holistic Web3 banking approach,” said Yves La Rose, founder and CEO of Vaulta Foundation.
The team described Vaulta’s approach to Web3 banking as two-pronged, offering blockchain-based services tailored for banks and neobanks, and offering a broader financial ecosystem featuring exSat’s Bitcoin banking solutions, blockchain insurance, tokenized real-world assets, and more.
Its network has maintained uninterrupted operation for nearly seven years, emphasizing stability as a key factor in its approach, he added. Advancements in the network’s speed, security and interoperability mean the network is “now positioned for mainstream adoption.”
The rebrand comes as regulatory frameworks for digital assets, including the European Union’s Markets in Crypto-Assets (MiCA), become more defined. La Rose said these developments make it the “right moment” to align Vaulta’s brand with its focus on Web3 banking.