USBC, Uphold and Vast Bank Partner to Launch World's First Retail Tokenized Deposits
USBC, Uphold and Vast Bank are partnering to create the first retail tokenized deposit offering that will provide global access to U.S. dollar accounts with FDIC insurance and regulatory protections through blockchain technology.
USBC, Inc. has announced a preliminary partnership with Uphold and Vast Bank to introduce the world's first retail tokenized deposit offering, marking a significant advancement in digital finance. The collaboration will provide unprecedented global access to U.S. dollar-denominated tokenized deposits and U.S. dollar deposit accounts for individuals, enterprises, and financial institutions worldwide.
Beginning in 2026, Uphold's customers will be able to open U.S. dollar deposit accounts enabling them to hold and transfer digital representations of their U.S. dollar deposits at Vast Bank on USBC's privacy-preserving blockchain. Enabled by Vast Bank's national charter and compliance framework, USBC tokenized deposits are designed to enable the underlying deposit to be eligible for FDIC insurance in accordance with applicable limits and requirements and subject to Reg E protections.
USBC Chairman and CEO Greg Kidd, the lead architect of the company's blockchain banking vision, stated that the partnership represents a defining moment for both USBC and the future of digital dollars. By combining the regulatory strength of the national bank charter with the scalability and accessibility of blockchain technology, the partnership positions USBC at the forefront of digital finance, building a transformative pathway to move money around the world in a fully compliant and regulated environment.
Unlike stablecoins, which are synthetic and lack meaningful consumer protections, USBC tokenized deposits are on-chain, digital representations of real U.S. dollars issued by a bank regulated under U.S. law. The breakthrough product offers three key advantages over other digital dollar initiatives: unparalleled safety with FDIC insurance eligibility, regulatory confidence through compliance with U.S. financial regulations, and programmable finance enabling instant settlement, real-time international payments, and smart contract automation.
The partnership is expected to accelerate revenue by driving deposit volume into Vast Bank and deepen engagement with both retail and institutional clients through global access provided by Uphold. It also amplifies shareholder value by broadening USBC's market and growth potential through its scalable revenue model as network operator. Additionally, the initiative solidifies USBC's regulatory leadership by setting the industry template for compliant, scalable digital money and creates opportunities for expanding technology licensing and B2B partnerships.
The companies have entered into a non-binding Memorandum of Understanding to finalize the terms of their strategic partnership in a definitive agreement, with the final agreement being subject to requisite board and regulatory approvals. USBC has published a whitepaper outlining its vision for tokenized deposits available at http://usbc.xyz/i/whitepaper. Uphold, which provides modern infrastructure for on-chain payments, banking and investments, integrates with more than 30 trading venues and maintains radical transparency by publishing its assets and liabilities every 30 seconds at https://uphold.com/en-us/transparency. Vast Bank, a nationally chartered U.S. bank headquartered in Tulsa, Oklahoma, continues to pioneer next-generation financial infrastructure within a fully regulated framework.