EOS transformed into "web3 bank" and renamed Vaulta, plans to launch new tokens

PANews reported on March 19 that according to The Block, the public chain EOS will be renamed Vaulta and transformed into "web3 bank". If the proposal is approved, the EOS token will be exchanged for the new vaulta token starting in May.

Vaulta will build around blockchain’s existing EOSIO software and integrate with exSat, a so-called “docking layer” that introduces smart contracts into Bitcoin. This cross-chain system will have 1 second transaction finality and support C++ and EVM-compatible smart contracts. Vaulta's "web3 banking operating system" will provide an institutional-level financial service through cooperation projects including Ceffu, Spirit Blockchain and Blockchain Insurance. The Vaulta Bank Advisory Board is composed of experts in the financial and blockchain industry, and will be from Systemic Trust, Tetra and ATB Financial.