- EOS Network has rebranded as Vaulta, aligning with a strategic shift toward Web3 banking
- A token swap is planned for late May 2025, marking the transition to the new brand
- The establishment of the Vaulta Banking Advisory Council aims to bridge traditional finance with decentralized systems
EOS Network has rebranded itself and shifted focus to Web3 banking services. The rebrand, which will see the network renamed Vaulta, will include a token swap and the formation of the Vaulta Banking Advisory Council, comprising experts from both traditional finance and blockchain sectors. The EOS Network Foundation (ENF) was founded in 2021 with the goal of reviving the ailing EOS.io blockchain and to hold Block.one accountable for the project’s decline.
Strategic Shift to Web3 Banking
The ENF was founded in August 2021 by Yves La Rose, and EOS supporter who felt that EOS operator Block.one was not doing enough to support the blockchain, which was shedding users following its bumper $4.1 billion ICO. The token raise, which ran between June 2017 and June 2018, was eventually ruled unlawful by the Securities and Exchange Commission in 2019, leading to a $24 million fine.
Four years later, the EOS Network is rebranding to Vaulta, signifying a deliberate pivot toward integrating blockchain technology with traditional financial services. La Rose, founder and CEO of the Vaulta Foundation, emphasized in a press release that this transformation is more than a mere name change:
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. Web3 has the potential to reshape global finance and Vaulta is at the forefront of this evolution.
Vaulta Banking Advisory Council Launched Alongside
To facilitate this transition, Vaulta has established the Vaulta Banking Advisory Council. This group consists of professionals from both the banking and blockchain industries, including executives from Systemic Trust, Tetra, and ATB Financial.
Alexander Nelson, senior director of digital finance at ATB Financial, remarked, “Vaulta’s strategic realignment towards Web3 banking is a significant development for the industry. 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.”
Despite the rebranding, Vaulta plans to maintain the technical infrastructure developed under the EOS Network, including its smart contract architecture, decentralized database, and inter-blockchain connectivity. The platform also intends to integrate with exSat, a Bitcoin-focused digital banking solution, as part of its Web3 banking initiative.
Vaulta plans to announce further strategic partnerships over the coming months, aligning with ongoing Web3 banking and infrastructure initiatives. The name of the new token ticker and launch of the swap portal is scheduled for the end of May, and the ENF has advised token holders to stay aware of progress.
