Vaulta Launches VirgoPay for Cross-Border Remittance with 0% Fees

Vaulta, previously known as EOS, is shifting its focus towards practical finance and compliance-first blockchain infrastructure. The network has recently partnered with digital asset platform VirgoCX to launch VirgoPay, a cross-border remittance app that leverages stablecoins to reduce fees and accelerate transactions. Vaulta serves as the default settlement layer for VirgoPay, aiming to provide near-instant payments across various jurisdictions, starting with markets like the U.S., Canada, Brazil, and Hong Kong.

In a recent Q&A, Yves La Rose, Founder and CEO of Vaulta, discussed the network's architectural changes, governance upgrades, and financial tooling that set it apart from its past iterations and current competitors. Two main early objections to EOS were the unworkable on-chain enforcement of the EOS constitution and the decentralization in decision-making that halted development. Vaulta has addressed these issues by establishing the EOS Network Foundation (ENF), now known as the Vaulta Foundation, which acts as a centralizing force for good, distributing community resources toward technical developments, marketing, and infrastructure.

With the rebranding to Vaulta, the community embraced a next-generation consensus model that further decentralizes the core algorithms. This change includes distributing validation roles among a larger spectrum of participants and allowing token-holder votes to decide on code changes. The combination of the Vaulta Foundation, advanced on-chain technologies, and an active token-holder community helps balance necessary coordination with distributed decision-making.

Vaulta's partnership with VirgoPay relies heavily on USDC and USDT stablecoins. To mitigate the risks of depegging or address freezes, Vaulta supports both Tether (USDT) natively and USDC via its Bitcoin transport layer (exSat). This flexibility allows application developers to swiftly change to substitutes if one stablecoin encounters problems. Additionally, automated triggers can halt inflows or swap users to safer assets if a stablecoin's peg deviates beyond reasonable thresholds. Users can also choose to hold other digital assets on Vaulta or multiple stablecoins, reducing systemic risk.

Vaulta offers both native and bridged stablecoin capabilities. USDT is issued natively on Vaulta, while USDC is supported via exSat, unlocking cross-chain liquidity from Bitcoin and other chains. The bridging solution is secured through careful audits by leading third-party blockchain security firms and real-time tracking of locked collateral and minted tokens. The community can verify that everything fits, and on-chain governance allows for rapid reaction to vulnerabilities, reducing cross-chain risk.

Vaulta is launching in regions with strict rules on crypto and stablecoins, such as Canada, Argentina, and Brazil. Compliance is ensured through local on-ramps and applications deployed atop the network. VirgoPay, for instance, must abide by KYC, AML, and national licensing guidelines specific to each country. The platform is already registered as an MSB in Canada and plans to fulfill legal criteria by partnering with local financial institutions or payment providers. Jurisdictional-specific rollouts help ensure local compliance, and should authorities tighten rules, the relevant front-end can change or suspend particular services in that jurisdiction. The Vaulta Foundation and related stakeholders actively interact with legislators to clarify how Vaulta’s distributed infrastructure operates, preserving the permissionless character of the Vaulta protocol.

VirgoPay has the licenses, partners, and infrastructure to scale globally, with Phase I of their deployment already announced. The platform plans to establish or partner with licensed companies in every new market, ensuring direct fiat deposit/withdrawal channels in each jurisdiction. This infrastructure beyond “crypto only” guarantees actual usefulness instead of only crypto-to-cryptocurrency exchanges. Starting with the U.S., Canada, Argentina, Brazil, and Australia, VirgoPay can hone its approach, follow local regulations, and then grow as licenses and alliances develop.

Ripple and Stellar dominate cross-border stablecoin payments with deep partnerships, but Vaulta aims to be a more flexible “Web3 Banking OS” offering advanced smart contracts, bridging, and distributed governance. This stimulates creativity, allowing any financial institution to create original solutions on top of the network. Vaulta natively supports stablecoins like Tether and integrates USDC via exSat, forming a native + bridged multi-assets ecosystem. This broader range of assets appeals to different markets and use cases, and incumbents cannot just copy deep cross-chain capability without major improvements to their own protocols.

The term “Web3 Banking OS” captures the whole concept of Vaulta: a basic layer for next-generation banking and finance. Vaulta’s smart contracts and network-level tooling offer advanced custody mechanisms, tokenized real-world assets, compliance, reliability, and bridging to other key ecosystems. Unlike general smart contract platforms, Vaulta has a specific, community-mandated basis to drive development, guaranteeing fast and coherent application of features. By connecting ideas like exSat, the ecosystem compiles BTC, stablecoins, and other tokenized assets at one location, allowing developers to “mix and match” the finest aspects of several blockchains. Vaulta focuses on developing and growing financial services that can help millions of users worldwide, tying Web3 capabilities to traditional finance rather than only on-chain gaming or DeFi speculation. Vaulta is an end-to-end framework for the banking of the future, allowing companies, fintechs, and individuals to easily manage digital assets, stablecoins, and new financial products in a distributed, scalable, and compliant manner.