<ul><li>Custodia Bank, in collaboration with Vantage Bank, successfully tokenized a U.S. bank's dollar demand deposits on a permissionless blockchain.</li><li>The issuance, transfer, and redemption of Avit stablecoins were carried out, showcasing the activation of a new U.S. dollar payment rail within the banking system.</li><li>Efficiencies observed during the test transactions included low transaction costs, fast settlement, programmability, and auditability in a regulated banking environment.</li><li>Both banks complied with U.S. banking regulations and worked closely with regulators to ensure the success of this first-of-its-kind project, highlighting the potential of permissionless blockchain technologies.</li></ul>

First U.S. Bank Stablecoin Issued on Permissionless Blockchain

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