EOS Reinvents Itself as Vaulta, Targeting Web3 Banking Sector
Blockchain network EOS has announced a major rebrand to “Vaulta”, aiming to reposition itself as a Web3 banking platform. The change, revealed on Tuesday, has sparked a 30% surge in EOS’s token price to $0.65, though it remains down 188% from its all-time high of $22.89.
The Vaulta transition, expected to be completed by May 2025, will see EOS tokens swapped for Vaulta tokens at a 1:1 ratio. The new token will be listed on the same 140 exchanges that currently support EOS.
Vaulta’s Web3 Banking Features
Vaulta aims to integrate traditional banking elements with decentralized finance (DeFi) by offering:
- Fractional ownership of real-world assets
- Staking and custody solutions
- Bitcoin yield-generating strategies
The network will introduce exSat, a smart contract feature allowing Bitcoin-based transactions across multiple blockchains.
Challenges and the Road Ahead
EOS was once touted as an Ethereum killer, raising a record-breaking $4.1 billion in its ICO. However, the project suffered from congestion issues, governance disputes, and legal setbacks, including a $24 million settlement with the SEC over unregistered securities sales.
With its new Vaulta branding and banking pivot, EOS is betting on a fresh start, but whether it can regain market confidence remains uncertain.
