EOS Network has announced its rebranding to Vaulta, aiming to offer modern banking services to Web3 users. A new token is expected to launch in May 2025.
Establishing an Advisory Board
To ensure readiness for new challenges, EOS Network has established a banking advisory council known as the Vaulta Advisory Council. It includes seasoned experts in banking, fintech, and Web3 sectors such as Lawrence Truong, Didier Lavallée, Alexander Nelson, and Jonathan Rizzo.
Vaulta's Banking Features
Vaulta plans to offer four major banking services, including wealth management, consumer payments, portfolio investment, and insurance. Each sector is developed in partnership with established firms like exSat and Spirit blockchain to leverage opportunities in both centralized and decentralized finance.
The Rise and Fall of EOS Network
EOS Network, launched by Block.one in 2017, raised $4.1 billion through its ICO but faced challenges such as an SEC fine in 2019. The transfer of management to the EOS Network Foundation marked a new phase of development, ultimately defined by the rebranding to Vaulta under Yves La Rose's leadership.
The rebranding of EOS to Vaulta underscores the company's intention to transition towards financial innovations in the Web3 space. New development directions include the implementation of modern banking services and strategic partnerships.
