- Custodia Bank and Vantage Bank launch Avit, the first stablecoin backed by U.S. dollar demand deposits on a permissionless blockchain.
- Avit introduces a new U.S. dollar payment system for real-time, programmable transactions between bank customers.
- This initiative signals a significant step for traditional banks embracing blockchain technology and stablecoins.
Custodia Bank and Vantage Bank have together launched America’s first stablecoin that is directly backed by U.S. dollar demand deposits on a permissionless blockchain.
The stablecoin, named Avit, has been deployed on the Ethereum mainnet using the widely adopted ERC-20 standard.
BIG NEWS: @custodiabank & @Vantage_Bank have issued America’s first bank-issued #stablecoin on a permissionless blockchain. First-ever tokenization of a U.S. bank’s U.S. dollar demand deposits for a bank customer on a permissionless blockchain:https://t.co/6hrBGGEouA pic.twitter.com/wnAKfvKU35
— Custodia Bank
(@custodiabank) March 25, 2025
What Makes Avit Different from Other Stablecoins?
The initiative introduced a novel U.S. dollar payment rail, which enables real-time, programmable transactions to occur directl…
The post Custodia and Vantage Introduce Bank-Issued Stablecoin Avit appeared first on Coin Edition.
Coin Edition – Read More