VersaBank unveiled branding for its proprietary Digital Deposit Receipts, now named VersaBank Real Bank Deposit Tokens (RBDTs). RBDTs are one‑for‑one representations of fiat currency held on deposit with the bank and are issued by a federally licensed bank in both the United States and Canada.
The tokens can legally earn interest and are FDIC‑insured, giving them a regulatory advantage over non‑bank issued stablecoins. They are backed by actual cash deposits and are reflected on the blockchain, combining the safety of traditional banking with the efficiency and programmability of blockchain technology.
VersaBank is the only dual‑chartered national bank running cross‑border pilot programs for tokenized deposits. The Canadian pilot was refreshed on September 16 2025 and the U.S. pilot launched on August 26 2025. The bank will seek the Office of the Comptroller of the Currency’s “non‑objection” before commercial launch in the United States.
The announcement also referenced VersaVault, a military‑grade digital vault that securely manages the cryptographic material used to issue and redeem RBDTs. VersaVault is SOC 2 Type 1 audit compliant and underscores the bank’s commitment to security and compliance.
RBDTs were developed in conjunction with law enforcement and are supported by VersaBank’s ownership of DRT Cyber Inc., a cybersecurity company that reinforces the bank’s security posture. The tokens are positioned as a low‑cost funding channel for retail and business customers and are designed for mainstream financial applications, including efficient payments and e‑wallet usage.
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