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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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Updates to Studio, YouTube Live, new gen AI tools, and everything else announced at Made on YouTube

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YouTube unveiled tons of new updates, features, and tools geared toward creators.

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Kevin Durant Recovers Bitcoin Bought at $650, Now Up Over 17,700%, After Nearly a Decade

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NBA forward Kevin Durant has access to his bitcoin again, after being locked out of his Coinbase account for nearly a decade. In that time, the price of BTC rose by more than 17,700%.

“We got this fixed. Account recovery complete,” Coinbase CEO Brian Armstrong posted on X, responding to a viral tweet about Durant’s access issues.

The recovery comes days after Durant and his business partner, Rich Kleiman, discussed the lockout at CNBC’s Game Plan conference. “It’s just a process we haven’t been able to figure out,” Kleiman said. Still, he noted, “bitcoin keeps going up… so, I mean, it’s only benefited us.”

Durant bought bitcoin in 2016 after hearing about it from then-teammates on the Golden State Warriors. At the time, bitcoin traded between $360 and $1,000 and Durant is estimated to have bought at around $650 per coin.

It’s now hovering near $116,000, according to CoinMarketCap data. Neither Durant nor Kleiman disclosed the size of his holdings.

Durant and Kleiman are investors in Coinbase and have promoted the company through their media outlet, Boardroom.

The episode comes amid growing frustration among some Coinbase users, who alleged they’ve faced similar issues retrieving account access or getting help from customer support. Armstrong acknowledged the criticism on social media, saying the company is “putting a big focus” on improving customer support.

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Lincoln Center’s Collider Fellows explore how tech could transform the performing arts

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At a time of high anxiety around technology’s impact on arts and culture, Lincoln Center for the Performing Arts’ Collider Fellowship is focused on new opportunities, welcoming multi-disciplinary artists to explore how emerging tech can transform live performance and the performing arts.

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