VersaBank's US subsidiary launches internal pilot for USDVB, exploring Digital Deposit Receipts (DDR).

[Chain News] PANews, August 27th – According to reports, B2B Digital Bank and cybersecurity technology solutions provider VersaBank announced that its wholly-owned subsidiary VersaBank USA has launched an internal pilot program for its USDVB (the U.S. version of its proprietary Digital Deposit Receipt DDR) in the United States ("USDVB Pilot Program"). The DDR was exclusively developed by VersaBank using its proprietary technology and is a tokenized deposit issued by the bank, presented in a highly encrypted 1:1 digital form, offering higher security, stability, and compliance compared to actual cash deposits and stablecoins. Consistent with similar pilot projects completed by the bank in Canada, the USDVB Pilot Program aims to demonstrate the functionality, security, and operational integrity of VersaBank USA DDR in a U.S. dollar environment and ensure compliance with U.S. banking regulations, including the Bank Secrecy Act (BSA) and the U.S. Office of Foreign Assets Control (OFAC).