[블록미디어 이정화 기자] According to Kodesk on the 27th (local time), Canadian digital bank Versabank started a token deposit test that emphasized stability and compliance. Versa Bank is a digital bank that provides business -oriented financial services. Through this test, we proposed token deposits that are suitable for safe and compliance with regulations as an alternative to stable coin.
The pilot project is operated through the US subsidiary, Versa Bank USA, and tests the US dollar version using the bank’s blockchain -based digital deposit (DDR) technology. The token to be tested is called USDVB, representing $ 1 in Versa Bank USA’s deposit account.
The test process will be expanded to △ thousands of internal transactions consisting of small amounts and then to test transactions with selected external partners. Token management is made through banks’ digital safe and electronic wallet platforms, which are issued by Ethereum (ETH), Algorand (ALGO) and Stella (XLM) blockchain.
Comparison of tokenization deposits and stablecoin
Stable Coin is an encryption token that has been linked to legal currency such as the dollar, and most of the private companies are issued and supported the value with the reserves held by the third consignment agency. On the other hand, token deposits are considered to be a debt of a regulated bank and must comply with the bank regulations. Versa Bank’s tokens can be guaranteed federal and can receive interest, so it can play a role of traditional deposits while having a blockchain -based efficiency.
Recently, banks are also studying tokenization deposits to increase funding efficiency by utilizing blockchain technology. Earlier this year, Custodia and VanTage Bank token the US dollar demands in the Ethereum network, while JP Morgan tested the deposit token on the layer 2 network base in Coinbase.
2025 Pilot Ends
Versa Bank said it plans to complete the pilot project by the end of 2025 and to be approved by the US Monetary Supervisory Service (OCC) before its launch. This seems to be a measure to prepare for the review of the regulatory agencies before the new digital finance technology is launched in the market.
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