EOS will be renamed Vaulta, focusing on Web3 banking services

According to BlockBeats, on March 19th, EOS Network announced that it will be renamed Vaulta and shift its focus to Web3 banking business. This transformation is accompanied by a token exchange scheduled for the end of May. Simultaneously launching the Vault Banking Advisory Committee, a team of experts in finance and blockchain industries dedicated to bridging the gap between traditional banking and decentralized systems. The committee members include executives from Systemic Trust, Tetra, and ATB Financial. Vault plans to retain its technology infrastructure from EOS Network, including smart contract architecture, decentralized databases, and blockchain connectivity. As part of its Web3 banking initiative, the platform will integrate with exSat, a digital banking solution focused on Bitcoin. Vaulta will leverage multiple partnerships with Ceffu, Spirit Blockchain, and Blockchain Insurance to expand its Web3 banking ecosystem.