Tokenized Bank Deposit Issued By Custodia Bank and Vantage Bank Used For Fast Cross Border Business Payments

Logistics Company DX Xpress Moves Programmable U.S. Dollars to Mexico in Seconds

SAN ANTONIO, May 5, 2025 /PRNewswire/ -- Logistics company DX Xpress used tokenized U.S. dollars to make cross-border payments between Mexico and the United States within seconds and for pennies in cost, working with Custodia Bank and Vantage Bank to introduce programmable U.S. dollar payments, Avits,™  to global supply chains. For the first time, parties routed tokenized U.S. dollars across borders and through the U.S. banking system using a permissionless blockchain network.

"At DX Xpress, we are always in search for technology to accelerate our operations," said Antonio Bazán, President and CEO of DX Xpress. "We see the capability to offer integrated, programmable U.S. dollar payments through our platform to speed up cash conversion cycles allowing for payments to be initiated via a smart contract at delivery and ultimately paying drivers for a completed route within the hour."

Jeff Sinnott, President and CEO of Vantage Bank said, "Vantage works with our customers to plan for their technology-driven banking needs, and in DX Xpress's case that means helping them recruit the best drivers by offering faster, easier methods of paying drivers based on location-tracking technology. We look forward to deepening our business and foreign exchange customer relationships by offering them faster, cheaper and programmable payments."

"We're bringing corporate treasurers the global network effects of permissionless networks by delivering them in a format usable for audited, compliant businesses," said Caitlin Long, CEO of Custodia Bank. "Our initial Avit launch last month was domestic only, but these transactions were cross-border and added a suite of legal rights and consumer protections not available with stablecoins issued by non-banks."

Both banks again complied with all applicable U.S. bank regulatory requirements, including BSA/AML/OFAC, which necessitated designing documentation, policies and procedures that differ from those of current stablecoin issuers. Both banks again worked closely with their respective bank regulators to ensure the success of this first-of-its-kind cross-border use of permissionless tokens within the U.S. banking system.

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.

Avit™ is a trademark of Custodia Bank, Inc.

About DX Xpress:  DX Xpress is a group of companies dedicated to logistics and trucking of general and specialized cargo in both Mexico and the United States. It offers technology-driven, door-to-door services between both countries using its own equipment and through agreements with the main U.S. & Canadian carriers. Its installed capacity includes up to 960 units in Mexico and 570 units in the United States, positioned at terminals strategically located in both Mexico and the United States.

About Custodia: Custodia Bank, Inc. is a Wyoming bank 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. In 2022, the Federal Reserve deemed Custodia a depository institution eligible to maintain a Federal Reserve master account. 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.

Media Contact:
Leslie Komet Ausburn
Komet Marketing Communications
210.326.8992
[email protected]

SOURCE Vantage Bank and Custodia