EOS Network Rebrands to Vaulta as It Shifts Focus to Web3 Banking

Blockchain project EOS Network has announced a name change to Vaulta as part of a strategic shift to Web3 banking. Part of this transformation will include a token exchange tentatively scheduled for late May 2025.

Key takeaways:

• Blockchain project EOS Network is changing its name to Vaulta as part of a strategic shift to Web3 banking. Part of this transformation will include a token exchange tentatively scheduled for late May 2025.

• As part of this rebranding, the project is also announcing a group of finance and blockchain experts who will be working on merging the traditional banking sector with decentralized technologies - the Vaulta Banking Advisory Council. It includes executives from Systemic Trust, Tetra and ATB Financial, said the press release.

• “As the CEO of a regulated, independent digital asset custody provider, I recognize how Vaulta's Web3 Banking approach, especially its direct gateway to Bitcoin can responsibly bridge traditional finance with Web3 technology. I look forward to sharing industry insights and guiding the network towards broader adoption,” emphasized Chief Executive Officer at Systemic Trust Lawrence Truong.

Despite the brand change, Vaulta will retain the core infrastructure of EOS Network, including the smart contract architecture, decentralized database and cross-chain compatibility, according to a statement from the project.

At the same time, company officials noted that the Web3 banking platform will integrate with exSat, a bitcoin-focused digital banking solution.

Vaulta plans to expand its Web3 ecosystem through partnerships with Ceffu, Spirit Blockchain, and Blockchain Insurance. It will develop a Web3 banking model with them that will include blockchain solutions for banks and non-banks and a broader financial ecosystem based on exSat bitcoin banking, blockchain insurance, and tokenized real assets.

The company is expected to announce new strategic partnerships in the coming months.

According to EOS Network Foundation Founder and CEO Yves La Rose, the renaming from EOS to Vaulta is a defining event regarding not only the name change but also the company's mission.

The team has spent several years creating a financial future based on Web3 banking, open finance, and the practical application of blockchain.

Technical Features

Vaulta's technology base will include the existing EOS infrastructure: a C++ architecture for smart contracts, a decentralized RAM database and multi-chain IBC interoperability. The partnership with the exSat ecosystem will strengthen Bitcoin's integration into the decentralized financial model.

Vaulta has already formed strategic alliances with Ceffu, Spirit Blockchain, and Blockchain Insurance Inc. Going forward, the company intends to introduce solutions in four areas: wealth management, consumer payments, investment portfolios, and insurance on the blockchain.

Technical and partner details will be revealed closer to the rebranding launch, scheduled for late May 2025.

Hacker Attacks On EOS Network

On March 19, SlowMist reported an increase in "address poisoning" attacks on EOS. Attackers send users transactions for fractions of a token (example: 0.001 EOS) to spoof the destination address.

Users are advised to carefully check addresses before sending transactions.