Custodia Bank and Vantage Launch New Stablecoin On Ethereum Blockchain

Custodia Bank and Vantage Bank have successfully launched the first-ever U.S. bank-issued stablecoin on a permissionless blockchain. The new stablecoin, named Avit, was issued, transferred, and redeemed using the Ethereum blockchain. This achievement marks a significant step in the integration of traditional banking with blockchain technology.