VERSABANK COMMENCES FOREIGN EXCHANGE FUNCTIONALITY AND OTHER ENHANCEMENTS TO SUPPORT COMMERCIALIZATION OF REAL BANK TOKENIZED DEPOSITS(TM)

Executive Summary

• VersaBank announced the commencement of foreign‑exchange capability and additional enhancements to its VersaView™ blockchain interface to support commercialization of its Real Bank Tokenized Deposits (RBTD™).
• The enhancements are being implemented with Block Time Financial, which will also add a rewards feature for RBTD™ holders.
• The new FX functionality enables 24/7, low‑fee conversion between U.S. and Canadian dollars for tokenized deposits, positioning VersaBank as the only bank able to issue both USD‑ and CAD‑denominated tokenized deposits.

Key Details

• Foreign‑Exchange Capability: Integrated into the existing U.S. and Canadian pilot programs for RBTD™, allowing instant conversion between USD and CAD 24/7 with minimal fees.
• Partner Collaboration: Block Time Financial (Wisconsin) will develop and enable the new FX functionality and a separate rewards capability within VersaView™.
• Rewards Feature: Distinct from interest payments; designed to provide additional incentives for depositors holding RBTD™ in VersaVault®‑managed wallets.
• Strategic Advantage: Highlights $1 trillion annual U.S.–Canada trade volume, emphasizing VersaBank’s unique position as the sole bank issuing tokenized deposits in both currencies.
• Regulatory Note: RBTD™ are eligible for federal deposit insurance subject to regulator confirmation; they can also earn interest.
• Quotes:
• “With more than $1 trillion in trade between the United States and Canada annually… the ability for our partners' depositors to quickly, seamlessly and inexpensively convert these currencies… is a unique advantage of our RBTD™.” – David Taylor, Founder & President, VersaBank.
• “VersaBank is both a pioneer and a leader in the tokenized deposit space.” – Bruce Rosenheimer, CEO, Block Time Financial.

Notable Quotes

• David Taylor (Founder & President, VersaBank): Emphasized the 24/7, low‑cost FX conversion and its potential to serve as a low‑cost source of deposits for the bank.
• Bruce Rosenheimer (CEO, Block Time Financial): Highlighted Block Time’s role in advancing VersaBank’s value proposition through the Digital Core Platform.