VersaBank is testing tokenized deposits on Ethereum, Algorand, and Stellar in the United States
2025-08-27 20:54:52
VersaBank, a Canadian digital bank, has announced that it will test its blockchain tokenized deposit "USDVB" in the United States, with each token corresponding to a $1 deposit held by the bank. The pilot will simulate trading on the Ethereum, Algorand and Stellar blockchains, with the aim of providing a stablecoin alternative to the market. VersaBank emphasized that the token is a federally insured deposit that earns interest and plans to seek approval from the Office of the Comptroller of the Currency (OCC) before its public offering.
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