USBC, Inc. (NYSE American: USBC), a publicly traded technology company, today announced a preliminary partnership with Uphold, an on-chain finance infrastructure provider, and Vast Bank, a nationally chartered U.S. bank, to launch the world's first retail tokenized deposit offering. This initiative aims to provide unprecedented global access to U.S. dollar-denominated tokenized deposits and deposit accounts for individuals, enterprises, and financial institutions, marking a significant step in the evolution of digital finance.
Under the partnership, Uphold's customers will be able to open U.S. dollar deposit accounts at Vast Bank, with digital representations of their deposits held on USBC's privacy-preserving blockchain, expected to begin in 2026. These tokenized deposits are designed to be eligible for FDIC insurance (subject to applicable limits) and Reg E protections, offering a regulated alternative to stablecoins. USBC has also published a whitepaper detailing its vision, available at http://usbc.xyz/i/whitepaper.
Greg Kidd, Chairman and CEO of USBC, emphasized the transformative nature of the collaboration: "By combining the regulatory strength of the national bank charter with the scalability and accessibility of blockchain technology, we’re not just innovating the U.S. dollar—we’re expanding its global influence." The partnership positions USBC at the forefront of digital finance, creating a compliant pathway for moving money worldwide.
Unlike stablecoins, which lack consumer protections, USBC tokenized deposits are on-chain representations of real U.S. dollars issued by a regulated bank. Key advantages include unparalleled safety through FDIC insurance eligibility, regulatory confidence via compliance with U.S. financial regulations, and programmable finance enabling instant settlement and smart contract automation.
The initiative is expected to create value for USBC shareholders by accelerating revenue through global deposit volume via Uphold, amplifying shareholder value through scalable network operations, solidifying regulatory leadership as an industry template, and expanding technology licensing and B2B opportunities for other financial institutions.
Uphold, Vast Bank, and USBC have entered into a non-binding Memorandum of Understanding (MOU) to finalize terms, with a definitive agreement targeted for the fourth quarter of 2025, subject to board and regulatory approvals. Uphold, regulated in the U.S. by FinCen and state regulators, provides infrastructure for on-chain payments and investments, serving millions of customers in over 140 countries. Vast Bank, headquartered in Tulsa, Oklahoma, combines traditional banking protections with blockchain utility.
This announcement marks a pivotal moment for digital dollars, offering a regulated, scalable alternative to existing digital currencies. The ability to hold FDIC-insured tokenized deposits could reshape global access to U.S. banking, particularly for unbanked populations and international users seeking secure dollar-denominated accounts. As the partnership progresses, it may set a precedent for other banks to adopt tokenized deposit frameworks, potentially accelerating the integration of blockchain technology into mainstream finance.
