Crypto
Custodia, Vantage propose token that switches between deposits and stablecoins
Custodia and Vantage Bank have proposed a token structure that functions as a bank deposit within a banking consortium but converts into a stablecoin when transferred to outside users. According to a white paper released by the companies, the token operates as deposits issued by participating banks inside the consortium and becomes a stablecoin backed by cash and short-term U.S. Treasuries when moved outside the Hazel network.
