USBC Launches World’s First Retail Tokenized Dollar Deposits

USBC has partnered with Uphold and Vast Bank to launch the world’s first retail tokenized deposit offering, expanding global access to real US dollar deposits, particularly for users beyond the reach of the traditional US banking system.

The product offers global access to US dollar deposit accounts and tokenized US dollar deposits for individuals, businesses, and financial institutions.

It aims to offer advantages over other digital dollar initiatives through enhanced safety because each USBC tokenized deposit is backed by a US bank account eligible for FDIC insurance and protected under Regulation E.

It also provides regulatory confidence by using traditional bank deposits on a permissioned blockchain that complies with US financial regulations, while enabling programmable finance through instant settlement, real-time payments, smart contract automation, and 24/7 access.

Greg Kidd, chairman and CEO of USBC, said: “By combining the regulatory strength of the national bank charter with the scalability and accessibility of blockchain technology, we’re not just innovating the US dollar — we’re expanding its global influence."

“This new partnership with Uphold and Vast Bank positions USBC at the forefront of digital finance, building a transformative pathway to move money around the world in a fully compliant and regulated environment, unlocking meaningful opportunities to drive revenue and create shareholder value.”

Through this partnership, Uphold customers will be able to open US dollar deposit accounts and, starting in 2026, hold and transfer digital representations of their deposits at Vast Bank via USBC’s privacy-preserving blockchain.

USBC tokenized deposits are backed by Vast Bank’s national charter and compliance framework and designed to ensure the underlying funds are eligible for FDIC insurance and protected under Regulation E.