VersaBank Conference: Digital Assets, Tokenized Deposits, and Stablecoin Custody

VersaBank (VBNK) outlined its approach to digital assets and tokenized banking services at a conference, emphasizing its 30-year history as a fully digital, cloud-based, branchless bank with significant growth in assets over the past three years. The bank's U.S. receivable purchase financing program has gained traction, with more deal flow in the U.S. than in Canada. VersaBank distinguishes tokenized deposits from stablecoins, with tokenized deposits being one-to-one representations of actual bank deposits recorded on the bank's own ledger and mirrored onto blockchains. The bank views blockchain-based products as an extension of its long-running banking model.