EOS Rebrands and Shifts to Web3 Banking: Token Surges 30%
EOS Network has unveiled a major rebrand and transition to Vaulta, signaling a shift toward Web3 banking. As a result, EOS skyrocketed by 30% to $0.65 before experiencing a slight correction.
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Originally launched in 2018, EOS set out to tackle Ethereum’s scalability and usability challenges. Now, after years of setbacks and achievements, the network is undergoing a strategic transformation aimed at attracting institutional and retail investors alike.
Transition from EOS to Vaulta: Rebranding Details
According to the official blog, the rebranding process is expected to be completed by late May 2025 (timeline subject to change). Users will be able to exchange their EOS tokens for the new Vaulta token at a 1:1 ratio through a dedicated portal, which will remain open for four months. Moreover, the updated token is expected to be listed on more than 136 exchanges where EOS is currently traded.
The project, built on EOSIO software, will integrate with exSat, an innovative platform that enables direct connectivity to Bitcoin via smart contracts written in C++ and EVM compatibility.
Vaulta aims to be an all-in-one platform for various financial services, including:
- Capital management and payments
- Investment portfolio solutions
- Insurance services
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Market Reaction and Web3 Banking Strategy
The crypto market reacted positively to the rebranding announcement. At the time of writing, EOS (listed on WhiteBIT) is trading at approximately $0.58, marking a 19% increase over the past 24 hours.
However, despite the rally, EOS remains well below its all-time high (ATH) set in 2018.
According to Lawrence Truong, CEO of Systemic Trust, Vaulta’s approach could significantly boost adoption among retail and institutional investors.
Democratizing financial access is vital for building real economic resilience, and joining Vaulta’s Banking Advisory Council is an excellent opportunity to support that goal. As the CEO of a regulated, independent digital asset custody provider, I recognize how Vaulta’s Web3 Banking approach, especially its direct gateway to Bitcoin can responsibly bridge traditional finance with Web3 technology. I look forward to sharing industry insights and guiding the network towards broader adoption,
Truong said.
Vaulta is prioritizing the development of a secure infrastructure for Web3 banking through partnerships with Ceffu, Spirit Blockchain, and Blockchain Insurance Inc. These collaborations aim to deliver a broad range of financial products and solutions to users.
Experts from the Vaulta Banking Advisory Council believe that leveraging advanced technologies, such as instant transaction confirmations within one second, will streamline financial processes and improve interoperability between traditional institutions and digital assets.
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