Geolocation-Triggered Payments Made With Tokenized Bank Deposits Issued By Custodia And Vantage Bank
June 26, 2025 – Responding to business customers’ demand for geolocation-triggered fast payments made within the U.S. banking system, Custodia and Vantage Bank successfully deployed Custodia-developed software that enables bank customers to make geolocation-triggered payments using tokenized U.S. dollar bank deposits. Professors at the Neeley School of Business at Texas Christian University and the University of Wyoming completed the first geolocation-triggered payments using stablecoin technology.
“Customers asked us for geolocation-triggered payment functionality that leverages programmable money to enforce payment conditions automatically. So, we built it for them,” said Jeff Sinnott, President and CEO of Vantage Bank. “With tokenized deposits, customers can enforce payment rules and conditions automatically, ensuring transactions are executed as intended. Multiple customers in the logistics and construction industries wanted these services, and we plan to make them broadly available.”
“Custodia and Vantage are bringing stablecoin technology to traditional banking business, and doing it better, faster, cheaper,” said Caitlin Long, CEO of Custodia. “Vantage and Custodia are delivering purpose-built services for banks – the originators of the vast majority of payments – which are a green-field market for stablecoin technology. We have built our services for banks using an API first “headless core” coupled with pre-built white-labeled apps so any bank can leverage these capabilities with minimal friction.”
Custodia and Vantage have actively supported blockchain education programs at universities in their home states of Texas and Wyoming, and they enlisted two professors – Kelly Slaughter of TCU Neeley and Steven Lupien of the University of Wyoming Blockchain Center – for this first deployment. The professors chose to drive from their respective campuses to their state capitol buildings, which they designated as the location to trigger payments to each other using AvitsTM, which are ERC-20 tokenized bank deposits. They elected their capitol buildings to show gratitude for blockchain-enabling legislation enacted by both States.
The transactions deployed Custodia’s patent, U.S. patent 11392906 (issued July 2022), for the tokenization of U.S. dollar bank deposits on smart-contract type permissionless blockchains.
AvitTM is a trademark of Custodia
About Custodia: Custodia is a Wyoming special purpose depository institution formed to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets that can meet the strictest level of institutional custody standards. Custodia is required to fully comply with all applicable laws and regulations, including the Bank Secrecy Act and federal “know your customer,” anti-money laundering and related laws and regulations. Custodia also complies with Wyoming’s special purpose depository institution and digital asset laws, which include requirements that fiat deposits be 100% reserved and that Custodia meet the strictest investor protections in the digital asset industry. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
About Vantage: Vantage Bank is prepared for what’s possible! We are dedicated to delivering sophisticated, innovative financial solutions while maintaining a strong commitment to the communities we serve. Headquartered in Texas, we operate across the state, with locations in Dallas, El Paso, Fort Worth, Houston, Laredo, the Rio Grande Valley, and San Antonio. Our suite of powerful digital tools and services rivals those offered by fintechs and similar non-bank financial services companies. We operate within a safe and sound environment—providing peace of mind and the financial security that only a regulated institution can offer. By integrating advanced technology with personalized service, Vantage Bank empowers individuals and businesses to achieve their financial goals while upholding the highest standards of compliance and community engagement.