VersaBank has announced that its subsidiary, VersaBank USA, has initiated a pilot program for its tokenized deposit product, USDVB, in the United States. The USDVB is a digital depository receipt (DDR) that represents a 1:1 digital equivalent of U.S. dollar deposits, offering enhanced security and regulatory compliance compared to traditional cash deposits and stablecoins. This pilot aims to validate the functionality and security of the DDR in a U.S. dollar environment, ensuring adherence to U.S. banking regulations such as the Bank Secrecy Act and OFAC guidelines. The program follows a similar successful pilot conducted in Canada.