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EOS Rebrands to Vaulta as it Shifts Focus to Web3 Banking

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EOS Network, known for its scalable blockchain infrastructure, is rebranding to Vaulta as it pivots toward Web3 banking. The transition comes with a token swap that is provisionally scheduled for the end of May.

It also comes with the launch of the Vaulta Banking Advisory Council, a group of financial and blockchain industry experts focused on bridging the gap between traditional banking and decentralized systems. Members include executives from Systemic Trust, Tetra, and ATB Financial, according to a press release shared with CoinDesk.

«Vaulta’s strategic realignment towards Web3 banking is a significant development for the industry,» said Alexander Nelson, senior director of digital finance at ATB Financial. «This move not only opens the door for traditional funds to enter decentralized finance through Bitcoin but also paves the way for greater institutional acceptance.»

Vaulta plans to maintain its technical infrastructure from the EOS Network, including its smart contract architecture, decentralized database, and inter-blockchain connectivity. The platform will integrate with exSat, a Bitcoin-focused digital banking solution, as part of its Web3 banking initiative.

The project, per the release, is set to leverage various partnerships to expand its Web3 banking ecosystem, including with Ceffu, Spirit Blockchain, and Blockchain Insurance. The firm is expected to announce further strategic partnerships in the coming months.

“This transformation represents more than just a name change; it’s a decisive step forward in our mission to deliver open, accessible financial access for everyone. Vaulta is the product of years of planning, strategic development, and thoughtful design, culminating in a holistic Web3 banking approach,” said Yves La Rose, founder and CEO of Vaulta Foundation.

The team described Vaulta’s approach to Web3 banking as two-pronged, offering blockchain-based services tailored for banks and neobanks, and offering a broader financial ecosystem featuring exSat’s Bitcoin banking solutions, blockchain insurance, tokenized real-world assets, and more.

Its network has maintained uninterrupted operation for nearly seven years, emphasizing stability as a key factor in its approach, he added. Advancements in the network’s speed, security and interoperability mean the network is “now positioned for mainstream adoption.”

The rebrand comes as regulatory frameworks for digital assets, including the European Union’s Markets in Crypto-Assets (MiCA), become more defined. La Rose said these developments make it the “right moment” to align Vaulta’s brand with its focus on Web3 banking.

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Crypto Trading Firm Keyrock Buys Luxembourg’s Turing Capital in Asset Management Push

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Crypto trading firm Keyrock said it’s expanding into asset and wealth management by acquiring Turing Capital, a Luxembourg-registered alternative investment fund manager.

The deal, announced on Tuesday, marks the launch of Keyrock’s Asset and Wealth Management division, a new business unit dedicated to institutional clients and private investors.

Keyrock, founded in Brussels, Belgium and best known for its work in market making, options and OTC trading, said it will fold Turing Capital’s investment strategies and Luxembourg fund management structure into its wider platform. The division will be led by Turing Capital co-founder Jorge Schnura, who joins Keyrock’s executive committee as president of the unit.

The company said the expansion will allow it to provide services across the full lifecycle of digital assets, from liquidity provision to long-term investment strategies. «In the near future, all assets will live onchain,» Schnura said, noting that the merger positions the group to capture opportunities as traditional financial products migrate to blockchain rails.

Keyrock has also applied for regulatory approval under the EU’s crypto framework MiCA through a filing with Liechtenstein’s financial regulator. If approved, the firm plans to offer portfolio management and advisory services, aiming to compete directly with traditional asset managers as well as crypto-native players.

«Today’s launch sets the stage for our longer-term ambition: bringing asset management on-chain in a way that truly meets institutional standards,» Keyrock CSO Juan David Mendieta said in a statement.

Read more: Stablecoin Payments Projected to Top $1T Annually by 2030, Market Maker Keyrock Says

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Crypto Trading Firm Keyrock Buys Luxembourg’s Turing Capital in Asset Management Push

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Crypto trading firm Keyrock said it’s expanding into asset and wealth management by acquiring Turing Capital, a Luxembourg-registered alternative investment fund manager.

The deal, announced on Tuesday, marks the launch of Keyrock’s Asset and Wealth Management division, a new business unit dedicated to institutional clients and private investors.

Keyrock, founded in Brussels, Belgium and best known for its work in market making, options and OTC trading, said it will fold Turing Capital’s investment strategies and Luxembourg fund management structure into its wider platform. The division will be led by Turing Capital co-founder Jorge Schnura, who joins Keyrock’s executive committee as president of the unit.

The company said the expansion will allow it to provide services across the full lifecycle of digital assets, from liquidity provision to long-term investment strategies. «In the near future, all assets will live onchain,» Schnura said, noting that the merger positions the group to capture opportunities as traditional financial products migrate to blockchain rails.

Keyrock has also applied for regulatory approval under the EU’s crypto framework MiCA through a filing with Liechtenstein’s financial regulator. If approved, the firm plans to offer portfolio management and advisory services, aiming to compete directly with traditional asset managers as well as crypto-native players.

«Today’s launch sets the stage for our longer-term ambition: bringing asset management on-chain in a way that truly meets institutional standards,» Keyrock CSO Juan David Mendieta said in a statement.

Read more: Stablecoin Payments Projected to Top $1T Annually by 2030, Market Maker Keyrock Says

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Gemini Shares Slide 6%, Extending Post-IPO Slump to 24%

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Gemini Space Station (GEMI), the crypto exchange founded by Cameron and Tyler Winklevoss, has seen its shares tumble by more than 20% since listing on the Nasdaq last Friday.

The stock is down around 6% on Tuesday, trading at $30.42, and has dropped nearly 24% over the past week. The sharp decline follows an initial surge after the company raised $425 million in its IPO, pricing shares at $28 and valuing the firm at $3.3 billion before trading began.

On its first day, GEMI spiked to $45.89 before closing at $32 — a 14% premium to its offer price. But since hitting that high, shares have plunged more than 34%, erasing most of the early enthusiasm from public market investors.

The broader crypto equity market has remained more stable. Coinbase (COIN), the largest U.S. crypto exchange, is flat over the past week. Robinhood (HOOD), which derives part of its revenue from crypto, is down 3%. Token issuer Circle (CRCL), on the other hand, is up 13% over the same period.

Part of the pressure on Gemini’s stock may stem from its financials. The company posted a $283 million net loss in the first half of 2025, following a $159 million loss in all of 2024. Despite raising fresh capital, the numbers suggest the business is still far from turning a profit.

Compass Point analyst Ed Engel noted that GEMI is currently trading at 26 times its annualized first-half revenue. That multiple — often used to gauge whether a stock is expensive — means investors are paying 26 dollars for every dollar the company is expected to generate in sales this year. For a loss-making company in a volatile sector, that’s a steep price, and could be fueling investor skepticism.

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