On the second day after the established public blockchain EOS launched token swap for "A," the crypto project related to the Trump family, WLFI, suddenly made a significant purchase.

On May 16, according to on-chain data, WLFI first bought $3 million worth of EOS on the PancakeSwap within the BSC ecosystem, followed by another $3 million purchase of Vaulta (token symbol: A) on the exSat ecosystem DEX protocol 1DEX.

This move immediately stirred up the market sentiment. Transitioning from EOS to Vaulta was not merely a name change but a narrative-level upgrade.

Data Source: TradingView

Born on the established public blockchain EOS foundation, Vaulta now has a more defined purpose: to build a Web3 banking network for global users. In other words, it is both an open finance platform and a "blockchain-native banking operating system" serving individuals and institutions.

Since Vaulta announced its transformation, the market response has been very direct. While the entire market was experiencing a downturn or consolidation phase, EOS saw a substantial increase.

Data Source: TradingView

This system's core consists of the Vaulta mainnet and the exSat protocol, and it will integrate more native components in the future to serve real-world financial scenarios, from payments and custody to asset management, aiming to be the "base of the on-chain bank." To ground this narrative, Vaulta has also taken significant actions.

Web3 Banking: From Narrative Void to a New Round of Consensus Building

Unlike the previous bull markets where Layer 1 public blockchains took the spotlight, this bull market cycle has shown a lack of momentum in the Layer 1 public blockchain race, and the call for "killer apps" has never been as sparse as it is today. In contrast, the narrative around RWAs (Real-World Assets) has been gradually heating up, and the integration of crypto and traditional finance has reached a new level. Especially in early 2024, the approval of a Bitcoin spot ETF marked an era: traditional financial capital finally entered the crypto world on a large scale and in an organized manner.

This also means that we are on the eve of an explosion in individual financial needs: cross-border entrepreneurs receiving payments in stablecoins, independent online store owners accepting USDT, community operators using wallets to manage project funds... These changes are quietly eroding the presence of traditional banks and giving rise to a new form of finance: "the bank in your pocket."

Against this backdrop, "Web3 Banking" is gradually evolving from a vague concept to a new industry consensus direction—it represents not only the restructuring of traditional bank architecture but also the reshaping of asset custody, security, composability, and financial intermediary functions.

Vaulta's transformation can be seen as hitting the rhythm of this narrative wave.

Driven by this narrative, an increasing number of service providers offering custody, lending, clearing, and yield products, such as Cobo, Matrixport, and Sinohope, are receiving more attention. The common denominator among these platforms is that they not only provide services to crypto-native users but are also striving to "go mainstream," gradually penetrating markets such as US stocks and gold, attracting traditional financial flows and asset pools.

Unlike similar platforms, Vaulta focuses on becoming a compliant channel for traditional funds to "enter the space," with the core difference being to give users more choice. Vaulta is an integrated ecosystem and operating system platform that provides a variety of options and services aimed at allowing users and financial institutions to easily choose according to their needs.

In Vaulta's network architecture, some users or institutions prefer assets to be fully on-chain, while others are more inclined to manage off-chain, and some want a combination of on-chain and off-chain to form a new mode of CeDeFi (Centralized and Decentralized Finance combination). All these options enable users to have "choice."

The core advantages of Vaulta's operating system (OS) are:

- High Reliability: Achieving 100% uptime;

- High Customizability: Supporting C++ language development and Virtual Chain infrastructure;

- Predictable Costs: Providing extremely low and predictable costs, supporting large-scale system expansion.

Additionally, at the product level, Vaulta provides both on-chain yield options and supports the CeDeFi model, both of which can meet the different needs of banks and institutional clients. The core advantage of Vaulta's products is that, first, by connecting to the Bitcoin Gateway, they link to the Bitcoin ecosystem, and second, through flexible product design, they provide a diverse space of options for users and institutions.

Specifically, Vaulta focuses on four core business scenarios: Wealth Management (such as on-chain asset yield enhancement), Consumer Payments (such as stablecoin transaction settlement, virtual card payments), Portfolio Management (such as on-chain investment advisory, yield strategy aggregation), and On-chain Insurance (such as on-chain insurance policies against custody risks).

Here is a real-world use case: For example, more and more cross-border independent e-commerce merchants can bypass Stripe and PayPal by using stablecoins such as USDT/USDC. Vaulta can help these users not only receive payments but also automatically transfer the received funds to an on-chain interest-bearing account, achieving "earning interest while receiving payments."

VirgoPay: Building the First "Payment Web" for the Vaulta Web3 Operating System

If Vaulta's vision is to build a truly on-chain, globally oriented financial operating system, then the first step of this vision has quietly landed — the cross-border payment network VirgoPay is set to launch officially in May.

On April 4, 2025, Vaulta announced a strategic partnership with the global integrated digital asset service provider VirgoCX Global Holdings (Virgo) to jointly launch the cross-border remittance solution VirgoPay. VirgoPay will officially launch in May, combining traditional fiat transfer channels with innovative stablecoin payment mechanisms, and leveraging Vaulta Chain's underlying settlement and clearing capabilities.

In this system, Vaulta is not just the underlying chain that "provides TPS" but also serves as the default settlement layer of the VirgoPay network — an on-chain banking-grade infrastructure that can support the operation of a global payment network.

Traditional cross-border payments rely on the SWIFT network or third-party clearing institutions, which are not only costly and cumbersome but also deterred by the days it takes for funds to arrive. VirgoPay will allow users to transfer funds through local bank transfers, wire transfers, credit cards, or directly top-up from a crypto wallet, then complete the remittance and exchange on-chain through a stablecoin bridge. The transfer process will transition from the traditional "days to arrive" to "minutes to complete," with an estimated overall fee reduction of up to 70%.

The payment process is as follows: Users initiate a transfer, select a local fiat or cryptocurrency channel → the system completes settlement and confirmation nearly instantaneously through the Vaulta Chain, with transaction fees as low as "less than one cent per transaction" → the recipient can choose to withdraw their preferred currency in the destination country or retain the stablecoin directly.

This "off-chain channel + on-chain stablecoin + compliant settlement" structure not only improves payment efficiency but also effectively mitigates fiat volatility risks while providing end-to-end auditable on-chain transparency.

Unlike many projects that choose to establish themselves in offshore permissive jurisdictions, Vaulta's compliance path begins with strategic siting. Its parent entity, the EOS Network Foundation, is registered in Canada and the state of Delaware in the United States — a jurisdiction with a mature banking regulation and well-established financial infrastructure. Canada not only requires crypto institutions to comply with anti-money laundering (AML) and know-your-customer (KYC) rules but also provides a clear framework for digital asset taxation, setting a solid foundation for Vaulta to attract institutional funding.

The licensing advantage of partner Virgo further strengthens this path. As a leading Canadian compliance service provider, Virgo has obtained the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) Money Services Business (MSB) license and has access to Canada's domestic bank settlement network. After the collaboration between the two parties, it is not just a connection in the on-chain scenario, but a reconstruction of the cross-border payment system from compliance, bridging the off-chain and on-chain.

This is exactly the consensus between Vaulta and Virgo: the future of banking must start with compliance and truly serve the real world from the payment scenario.

The first phase of VirgoPay will launch in multiple major financial markets, including the United States, Canada, Hong Kong, Australia, Brazil, and Argentina, and will later expand to high-growth global remittance networks in South America, Southeast Asia, and the Middle East. It is estimated that the global cross-border remittance market will exceed $1 trillion by 2029, and the combination of Vaulta + VirgoPay is creating an on-chain channel for this blue ocean.

Unlike traditional Web3 projects, Vaulta is not eager to lay down a technological template but rather starts from the most painful scenarios in the real world and gradually constructs an on-chain banking operating system like a jigsaw puzzle: VirgoPay is the first scenario landing under the Vaulta Banking OS framework; through Virgo's global payment network, Vaulta's chain will onboard a large number of non-crypto users for the first time; this is not just a product collaboration but also a milestone for Vaulta to transition from an "L1 chain" to an "on-chain banking system." From Virgo's ecosystem perspective, this collaboration also means that its stablecoin payment capability will be formally embedded in the sovereign chain and become part of the blockchain settlement system.

In the coming weeks, Vaulta and Virgo will gradually disclose the timeline for the official launch of VirgoPay and how the product will be deeply integrated into Vaulta's Banking OS system.

Additionally, a more recent news from Vaulta is: establishing a strategic partnership with Ultra. Ultra is an all-in-one game platform for gamers, publishers, and developers. This also means bringing more games and GameFi (GameFi) opportunities to Vaulta's community.

In the future, Vaulta and Ultra will work together to accelerate the creation of an all-encompassing platform, enabling digital assets to be tokenized, freely traded, and monetized across different games, relying on fast, low-cost, and highly interoperable infrastructure. In addition, the platform will support decentralized markets, cross-game integration, and metaverse banking services, expanding the boundaries of the digital economy. Related Read: "Vaulta and Ultra Establish Strategic Partnership to Jointly Drive the Future of Finance and Gaming"

Vaulta is Not Equal to EOS

In this world, more worrisome than having a troublesome ex is having a malevolent "former parent company."

Looking back at Vaulta's history, you will find that EOS's issue was never about the technology being insufficient but rather a misalignment of power: by the end of 2019, EOS's price dropped below $5, reaching a low of $1.8 the following year, plummeting over 90% from its all-time high of $23. At that time, when the super nodes were facing a survival crisis, developers were leaving, and the market liquidity was drying up, what the EOS ecosystem needed most was the rescue from its parent company, Block.one, but Block.one did nothing.

As we all know, through EOS's ICO, Block.one raised $4.2 billion, marking the largest fundraising event in crypto history. In theory, this amount of funding could have supported the long-term development of EOS, supported developers, driven technological innovation, and enabled the ecosystem to continue to grow. When EOS ecosystem developers begged for assistance, Block.one threw out a $50,000 check—this amount of money is not even enough to pay a Silicon Valley programmer's salary for two months. However, according to the latest overseas media reports, Block.one's CEO BB lavishly spent $172.8 million to buy a villa, almost refreshing the record for the highest transaction amount in Italian real estate history.

More shocking than Block.one's governance chaos is that Block.one is increasingly resembling a "family business" centered around CEO BB. The sister was parachuted in as CMO, and her only visible "achievement" was to change the EOS brand color from tech blue to a "softer Morandi gray"; the mother took charge of the EOS VC venture capital fund, leading the social app Voice, which went online for a year with less than 10,000 users but cost $150 million. EOS founder BM confessed on Twitter that he has "no decision-making power" and can only helplessly watch the team pour resources into the enterprise-level toolkit EOSIO—a project customized for giants like Walmart, completely unrelated to the EOS mainnet. Related reading: "Seven years later, the $4.2 billion largest financing project in history announces failure."

In 2021, the community initiated a "rebellion" and "independence," cutting off Block.one's control. "At first, I was just a validator helping with mainnet deployment, not leading the network, just a technical member of the community." However, after witnessing EOS being left idle for three years, Yves La Rose established the EOS Network Foundation.

“At the beginning, we didn't even have the EOS intellectual property, GitHub repository, or even social media accounts. This brand reshaping is actually a reclamation of identity,” Yves La Rose said.

Over the past three and a half years, Vaulta has been rebuilt brick by brick—a journey that has involved adding all new features and building all products with one goal in mind: the Web3 banking industry. The final puzzle piece was to change the name and token code.

This also means that in reality, Vaulta has no relationship with early EOS and its parent company, Block.one. It is a 'child' that has been painstakingly detached and reconstructed from the old system by the entire community. Vaulta is the result of a strategic reshaping led by the EOS Network Foundation, which has now inherited the EOS Network Foundation and continues its mission as an independent, community-driven organization.

Vaulta is not just old wine in a new bottle, nor is it a “continuation of EOS”; it is the “starting point of the Web3 banking industry.” The story of Vaulta is just beginning.

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