VersaBank Pilots Federally Insured Tokenized Dollar Deposits on Ethereum, Algorand & Stellar

VersaBank, through its U.S. subsidiary VersaBank USA, has launched an ambitious pilot program for a tokenized deposit product called USDVB—a blockchain-native, bank-backed digital receipt representing one U.S. dollar held in reserve.

The pilot will simulate thousands of low-value transactions, initially conducted internally and then extended to select external partners. The aim is to test functionality, security, and operational resilience.

USDVB tokens will be issued and managed using VersaBank’s proprietary digital platforms—VersaVault (digital vault) and VersaView (e-wallet)—and will live on the Ethereum, Algorand, and Stellar blockchains.

What sets USDVB apart from typical stablecoins is that it’s federally insured, issued by a regulated bank, and can earn interest, while still operating on blockchain rails.

VersaBank expects to wrap up the pilot by the end of 2025, with the goal of moving to a commercial launch soon afterward. The bank is pursuing a “non-objection” from the Office of the Comptroller of the Currency (OCC) before scaling publicly.

Built with compliance in mind, the pilot is designed in line with U.S. banking regulations—including the Bank Secrecy Act (BSA) and OFAC guidelines.