David Feaster

Mehmed Rizvanovic

Andrew Scutt

Joseph Yanchunis

Mike Rizvanovic

Timothy Switzer

- VersaBank has initiated a **refresh of its Canadian Digital Deposit Receipts (DDRs) pilot program** and integrated it with its US pilot program, aiming to demonstrate **high-speed, low-cost, and secure cross-border payment transactions**.  **[1690639_0001690639-25-000039_ddrcdnpilotprogramsept16.htm:0]** 
- Both pilot programs are anticipated to conclude by the **end of calendar 2025**, with a commercial launch expected shortly thereafter, subject to regulatory requirements.  **[1690639_0001690639-25-000039_ddrcdnpilotprogramsept16.htm:0]** 
- The company identifies a significant **near-term commercial foreign exchange opportunity** given its status as the sole nationally licensed bank in both the United States and Canada with tokenized deposit capabilities.  **[1690639_0001690639-25-000039_ddrcdnpilotprogramsept16.htm:0]**

VersaBank refreshes Canadian DDR pilot and integrates with US program

- VersaBank has initiated a **refresh of its Canadian Digital Deposit Receipts (DDRs) pilot program (CADVB Pilot Refresh)**, integrating it with its **recently launched US-dollar DDR pilot program (USDVB Pilot Program)**.  **[1690639_20250916TO74049:0]** 
- The integrated pilot programs aim to demonstrate VersaBank's capability for **high-speed, low-cost, and secure cross-border payment transactions** using DDRs.  **[1690639_20250916TO74049:0]** 
- Both the CADVB and USDVB pilot programs are expected to be **completed by the end of calendar 2025**, with a commercial launch planned as soon as possible thereafter.  **[1690639_20250916TO74049:0]** 
- VersaBank highlights an **exceptional near-term opportunity** in foreign exchange, leveraging its position as the **only nationally licensed bank in both the United States and Canada with tokenized deposit capabilities** that can offer legally permitted interest payments and deposit insurance.  **[1690639_20250916TO74049:0]** 
- DDRs are defined as **bank-issued tokenized deposits**, which are 1:1 digital representations of actual cash deposits on the blockchain, providing enhanced security, stability, and regulatory compliance compared to stablecoins.  **[1690639_20250916TO74049:0]** **[1690639_20250916TO74049:1]**

VersaBank (VBNK)