Ex-Ripple executive’s USBC, Uphold, and Vast Bank formalize deal for tokenized bank deposits

USBC, led by CEO Greg Kidd, former Chief Risk Officer at Ripple Labs, announced today that it has reached an agreement on a strategic partnership with Uphold, an on-chain finance infrastructure provider, and Vast Bank, a nationally chartered bank.

“Our agreement with Uphold and Vast Bank more clearly defines our vision for bank-regulated digital dollars,” Kidd said in a statement.

The definitive triparty agreement formalizes an October 2025 memorandum of understanding and outlines collaboration on the regulatory, banking, and technology stack.

The initiative is expected to support tokenized deposits, including faster settlement, improved treasury operations, and digital asset services, pending regulatory approvals.

“With this definitive triparty agreement, USBC, Vast, and Uphold are formally agreeing to combine efforts to continue building the regulatory, banking, and technology stack needed to bring trusted digital dollars into everyday use at scale.”

NYSE-listed USBC, formerly known as Know Labs, announced its rebranding in August 2025 following Goldeneye 1995 LLC’s acquisition of a controlling interest for $125 million.

The company, holding 1,000 Bitcoin worth nearly $89 million, is focused on its USBC deposit token, digital assets, and Bitcoin treasury strategy to drive innovation and long-term shareholder value.