Custodia Bank and Vantage Bank have completed tokenization of Ethereum Mainnet’s US dollar demand deposits.
The bank has issued and redeemed Avit Stablecoins in Castodia on the Ethereum Mainnet, marking a major milestone with blockchain-based banking innovation.
They conducted a series of regulated test transactions, including the creation, transfer and reimbursement of Avit tokens under full US bank compliance, including BSA/AML/OFAC regulations.
Vantage Bank handled Fiat Remerves and traditional banking services (FedWire/ACH), while Custodia oversaw blockchain functions such as issuance, management and settlement through the AVIT management system.
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