EOS announced plans to rebrand as Vaulta and focus on web3 banking, leading to a 25% token price increase.
Rebranding Details
EOS gained 25% to $0.61 following the announcement of rebranding to Vaulta to realize the vision of web3 banking. The press release on March 18 detailed a token swap expected by the end of May, although the timeline remains flexible.
Updates Amid Low Performance
The rebrand follows a period of weak performance for EOS, which has struggled to rebound from its all-time high in 2018. This transition is part of a broader effort to integrate blockchain with traditional finance.
Security Measures and New Partnerships
Blockchain security firm SlowMist issued a warning about address poisoning scams targeting EOS users. As part of the rebranding plans, Vaulta will integrate with exSat, a Bitcoin digital banking solution.
The rebranding and shift to web3 banking may provide a fresh start for ERC despite past challenges.
