Custodia CEO Caitlin Long said the pilot proves US banks can compliantly tokenize deposits on a permissionless blockchain, while Vantage CEO Jeff Sinnott called it a pivotal moment for cross-border payments and US dollar trust

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Vantage Bank CEO Jeff Sinnott called the milestone “a pivotal moment in reshaping the financial landscape,” noting it demonstrates how banks can lead in cross-border payment innovation while reinforcing trust in the American dollar

We broke ground on the legal/regulatory front, proving that U.S. banks can collaborate to tokenize demand deposits on a permissionless blockchain in a regulatorily-compliant manner," Caitlin Long, CEO of Custodia Bank, said