Tokenized Deposits
- Real-time multi-assets settlement platform that enables mint, burn and transfer of regulated liabilities over DLT
- Tokenized bank deposits (a bank account) for fintechs
- 1:1 reserve ratio via proof of reserves consensus mechanism
- Tokenized deposits OR riskless stablecoin bank account system
- Tax exempt interest payments
- Proof of reserves, immune to bank runs
- Transparent operations
- Non-custodial (i.e. your keys, your wallet)
- Programmatically immune to debanking practice
- 1. Request verification (standard KYC/AML checks)
- 2. Approve/reject based on crypto compliance
- 3. Create digital wallet instead of traditional account
- 4. Issue wallet credentials instead of physical card/PIN
- 5. Connect to stablecoin network
- 6. Fund wallet with selected stablecoin
- 1. Customer deposits USD to bank custody account
- 2. Bank verifies funds settled
- 3. Smart contract mints equivalent USDX
- 4. USDX transferred to customer's wallet
- 5. Connect to stablecoin network
- 6. Bank holds USD as collateral
- This maintains 1:1 backing ratio where each USDX is backed by 1 USD in custody.