EOS transforms into "web3 bank" and is renamed Vaulta, plans to launch new token

According to The Block, the public chain EOS will be renamed Vaulta and transformed into a "web3 bank". If the proposal is approved, EOS tokens will start to be exchanged for new vaulta tokens from May.

Vaulta will build around the existing EOSIO software of blockchain and integrate with exSat, which is a so-called "docking layer" that can introduce smart contracts into Bitcoin. This cross-chain system will have 1-second transaction finality and support C++ and EVM compatible smart contracts. Vaulta's "web3 banking operating system" will provide a set of institutional-level financial services through cooperation with projects including Ceffu, Spirit Blockchain, and Blockchain Insurance. The Vaulta Bank Advisory Board consists of experts in finance and blockchain industries; members will come from Systemic Trust, Tetra, and ATB Financial.