Vaulta and Virgo Collaborate to Launch a Global Remittance Network Using Stablecoins, VirgoPay
According to a PR Newswire press release, Vaulta is a Web3 banking operating system, formerly known as the $EOS Network, and has now partnered with cryptocurrency service provider Virgo to launch VirgoPay. As the default transaction layer for VirgoPay, Vaulta will support this cross-border remittance network, which uses stablecoins to reduce fees and speed up international transfers. VirgoPay is set to launch in May and initially connect financial centers in the United States, Hong Kong, Canada, Argentina, Brazil, and Australia, with plans to expand to South America, Southeast Asia, and the Middle East in the second phase.
Today, EOS has been renamed Vaulta.
The once high-profile blockchain, which raised funding for an entire year seven years ago and was seen as one of the earliest "Ethereum killers," has finally abandoned its dream of achieving a million TPS and announced its shift towards Web3 banking. The grand ambitions of raising $4.2 billion, the excitement of campaigning for 21 supernodes, and the utopian declaration of a million TPS—these fragments pieced together represent the most expensive idealistic experiment in blockchain history.
Seven years later, apart from the old investors, no one mentions this now 97th ranked "old blockchain" by market capitalization. In the days to come, EOS will no longer be a high-performance public chain, but will instead reinvent itself, attempting to pivot to Web3 banking—it has abandoned its former dreams and even its name.
We still use this article to document the craziest product of the ICO era, burning so much money and leaving behind a poignant story.
