PANews reported on March 25 that according to CoinDesk, Custodia and Vantage Bank launched a tokenized US dollar demand deposit service on Ethereum, using Custodia's Avit stablecoin for redemption. It is reported that Vantage Bank is responsible for legal reserves and traditional banking services (Fedwire/ACH), while Custodia oversees blockchain functions such as issuance, custody and reconciliation through its Avit management system.