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

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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
Leslie@KometCommunications.com

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SOURCE Vantage Bank and Custodia

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After more than four decades of exceptional leadership and contribution to the fragrance industry, we announce the retirement of Jack Corley, Chief Sales and Marketing Officer at Custom Essence

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SOMERSET, N.J. , June 26, 2026 /PRNewswire/ — Jack’s career spans 45 years and is marked by a rare combination of commercial excellence, industry expertise, and a deep commitment to people. He began a significant chapter of his journey at IFF, where he spent 20 years leading global procurement activities. During this time, he developed a particular expertise in the sourcing of natural and sustainable raw materials—an area that would become a defining theme throughout his career.

Building on that foundation, Jack went on to start his own fragrance company, originally Royal Aromatics, which later became Trilogy Fragrances. Under his leadership, the business grew into a respected and successful enterprise, ultimately attracting the attention of Symrise, which acquired the company in 2012. Following the acquisition, Jack played a pivotal role in shaping Symrise’s newly established naturals division, “Purescent”, further reinforcing his reputation as a forward-thinking leader in the industry.

Jack later joined Custom Essence in 2014 as President of a newly established Naturals Division. In 2016 Jack became Chief Sales Officer where he built and led the company’s commercial organization. His impact was immediate and lasting—driving significant growth, strengthening customer relationships, and helping position the company as a recognized leader among middle-market fragrance providers.

While Jack’s professional accomplishments are remarkable, it is his character and leadership that truly set him apart. He is widely respected across the industry—by colleagues, competitors, and customers alike—for his honesty, intelligence, business acumen, and unwavering integrity. He has consistently demonstrated a willingness to support others, share his knowledge, and invest in the success of those around him.

In addition to his corporate achievements, Jack has been a dedicated educator and mentor. For more than 20 years, he served as an adjunct professor at Monmouth University, teaching a variety of business courses and helping to shape the next generation of business professionals.

Jack leaves behind a legacy that extends far beyond business results. His influence can be seen in the many people he has mentored, the organizations he has strengthened, and the standards of excellence he has set.

We are pleased to share that Jack will remain with Custom Essence in a consulting capacity, supporting the transition of the CSO role as well as guiding new business development efforts.

Please join us in congratulating Jack on an extraordinary career and wishing him all the best in this new phase of life.

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SOURCE Custom Essence

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Minister Hodgson advances Canadian Digital Core Library at EMMC 2026

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YELLOWKNIFE, NT, June 26, 2026 /CNW/ – Canada is accelerating critical minerals development and building more resilient, diversified supply chains to create prosperity, jobs and enhance our national security. Central to this effort is the creation of the Canadian Digital Core Library (CDCL) — a national platform that will facilitate access to digitized drill core data from across the country. Drill cores provide valuable information about mineral deposits and the size, quality and economic potential of a mineral resource. This information is what allows Canada to identify strategic new mining projects across the country and mine the resources that underpin national defence, advanced manufacturing and the energy transition.

Today, at the 2026 Energy and Mines Ministers’ Conference, the Honourable Tim Hodgson, Minister of Energy and Natural Resources, announced the CDCL’s next steps.

Minister Hodgson highlighted newly signed memoranda of understanding (MOUs) with Ontario, Nova Scotia, New Brunswick, Manitoba, Alberta, Saskatchewan, British Columbia, Newfoundland and Labrador, the Northwest Territories, and Yukon, which will work with the federal government to advance priority actions needed to achieve the CDCL’s objectives, such as supporting drill core scanning in their jurisdiction, accelerating the availability of geoscience data in priority regions and co-developing sustainable digital library solutions with other jurisdictions and industry partners. The majority of public drill core in Canada is held by the provinces and territories, meaning that collaboration between the Government of Canada and provincial and territorial governments is essential to the successful development of the CDCL. Alongside contributions from industry, which also holds core repositories, these agreements mark a significant step forward in a new Team Canada approach to drill core data.

Minister Hodgson also announced up to $15 million for Creative Destruction Lab, a global not-for-profit network with expertise in advancing the commercialization of complex scientific and data-driven innovations, to develop the CDCL platform. Once operational, the platform will improve data accessibility, reducing exploration risk. This will allow us to accelerate investment and innovation across Canada’s mining sector while supporting Canada’s National Artificial Intelligence Strategy: AI for All by enabling the use of AI in priority sectors — including natural resources — to drive productivity and economic growth.

With core scanning to begin by September 2026, the Government of Canada is moving with speed to gain better insight into Canada’s mineral resources — insights that will allow us to unlock our natural resource potential, drive economic growth and strengthen Canada’s competitiveness in the race for secure critical minerals. 

Quotes

“Accessible data on the resources beneath our feet is the foundation of investment decisions in major projects that can unlock Canada’s critical minerals potential. By working with provinces, territories, industry and post-secondary institutions, and by leveraging modern technology as we committed to in our new AI strategy, AI for All, we are making smart moves to create opportunities for Canadians across the country.”

The Honourable Tim Hodgson
Minister of Energy and Natural Resources

“Critical minerals are essential to Canada’s economic security, national defence and the transition to a prosperous, clean economy. By leveraging a true Team Canada approach and AI technology, the Canadian Digital Core Library is helping reduce exploration risk, build stronger supply chains and unlock projects that will lead to the creation of good, sustainable jobs for Canadians across the country.”

Claude Guay
Parliamentary Secretary to the Minister of Energy and Natural Resources

“Making geoscience data openly available through an AI-ready platform offers novel opportunities for innovators, explorers and builders. We are honoured to work with the federal, provincial and territorial governments, industry-leading resource companies and post-secondary institutions to develop the Canadian Digital Core Library platform.”

Sonia Sennik
CEO, Creative Destruction Lab

Quick Facts

Canada produces over 60 minerals and metals, including the 34 critical minerals identified on the 2024 Critical Minerals List, and has the potential to supply even more critical minerals to both domestic and international markets. Drill cores are solid, cylinder-shaped samples of rock, sediment or soil collected to inform geological data about the composition of mineral deposits beneath the Earth’s surface at different depths, which is used for mineral and energy exploration.Canada stores millions of metres of geological drill cores in government repositories across the country, making the collection one of the largest drill core libraries in the world. The Geological Survey of Canada holds over 80,000 metres of drill core. Many provinces and territories also have their own core libraries, adding almost five million metres to Canada’s core catalogue. Laid out end to end, Canada’s total drill core catalogue would extend across the country, from Vancouver to St. John’s, nearly spanning the entire width of Canada.On March 2, 2026, Minister Hodgson announced the signing of a non-binding Declaration of Intent (DOI) between the Government of Canada, Creative Destruction Lab, Laurentian University and several major mining companies — Teck Resources Ltd., Agnico Eagle Mines Ltd., BHP Investments Canada Inc., Hudbay, Anglo American PLC and Vale Base Metals — on the CDCL. Since then, Creative Destruction Lab has led collaboration to explore the development of the CDCL. This work included key actions such as national data platform design, analysis of existing models, design for AI readiness and analysis of current and emerging scanning technologies. This work, delivered entirely in-kind, has produced a selection of design recommendations to inform the next phase of the initiative: the collaborative design process.  Funding to Creative Destruction Lab comes from the $40-million investment announced by Minister Hodgson at the 2026 Prospectors & Developers Association of Canada (PDAC) Convention, underscoring the federal government’s commitment to delivering this initiative.In July 2025, Canada and the Northwest Territories announced a pilot project to scan, digitize and analyze existing drill cores from the Northwest Territories Geological Survey’s collection, serving as an initial model for how we can use cutting-edge techniques to highlight new areas of high-critical mineral potential.

Related Products

Canada advances drill core scanning initiative at PDAC 2026 (March 2026)Canada and the Northwest Territories Partner on Innovative, AI-Based Core Scanning Initiative to Support Critical Minerals Development (July 2025)

Associated Links

Canadian Digital Core LibraryGeological Survey of CanadaNational Geological Surveys CommitteeCanadian Critical Minerals StrategyCanada’s National Artificial Intelligence Strategy: AI for All

Follow Natural Resources Canada on LinkedIn.

SOURCE Natural Resources Canada

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Frost & Sullivan Institute Honors Organizations Driving Transformative Impact Through Visionary Leadership

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SILICON VALLEY, Calif., June 26, 2026 /PRNewswire/ — The Frost & Sullivan Institute is proud to announce the recipients of the 2026 Visionary Growth Leadership Best Practices Recognition, honoring organizations that are setting new benchmarks for business leadership by tackling some of the world’s most critical challenges.

This recognition celebrates enterprises that have successfully aligned innovation, sustainable growth, and positive societal impact, demonstrating that long-term business success is strengthened by a commitment to creating meaningful change. The award recognizes companies whose forward-thinking strategies and solutions are helping shape a more resilient, equitable, and sustainable future.

The 2026 honorees exemplify a new model of leadership in which purpose and performance are deeply interconnected. Across industries including renewable energy, climate adaptation, healthcare, cybersecurity, digital access, education, sustainable infrastructure, and resource management, these organizations are delivering scalable solutions that address complex global needs. Through technological innovation, responsible stewardship, and effective execution, they are generating measurable benefits for communities, economies, and industries while advancing sustainable growth. Their achievements reflect the growing expectation that organizations create value not only for shareholders, but for society.

“The recipients of the Visionary Growth Leadership Recognition illustrate how innovation and impact have become essential drivers of sustainable growth,” said David Frigstad, Executive Director of the Frost & Sullivan Institute. “By addressing critical global challenges with purpose, agility, and strategic vision, these organizations are redefining what leadership looks like in today’s world. Their accomplishments demonstrate that enduring market success is built upon resilience, responsible growth, and the ability to deliver measurable value to stakeholders and society alike.”

Award recipients were selected through Frost & Sullivan Institute’s comprehensive research and evaluation framework. Analysts assessed organizations across key impact pillars, including Healthcare, Human Rights, Economics, Environment, Education, Security, and Infrastructure. The evaluation focused on each organization’s capacity to develop and implement innovative solutions that drive meaningful progress while creating lasting value at both industry and societal levels.

The Frost & Sullivan Institute extends its heartfelt congratulations to the following recipients of the 2026 Visionary Growth Leadership Best Practices Recognition and applauds their continued commitment to advancing innovation, sustainable development, and positive global impact.

Devon EnergyGlobantMastercardAdani Green EnergyAxon EnterpriseNVIDIA CorporationServiceNowApplied MaterialsDB SchenkerRede D’Or São LuizReNew PowerAutoZoneDSVFawryPTCTrane Technologiese.l.f. BeautyVisaNucor CorporationPagSeguroPalo Alto NetworksSamsaraUniqlo (Fast Retailing)UnitedHealth GroupWaste ConnectionsdLocalTeledyne TechnologiesStraumann GroupTetra TechXylemKingspan GroupLululemon AthleticaSpotifyVertex Pharmaceuticals

About Frost & Sullivan Institute

The Frost & Sullivan Institute (FSI) is a non-profit organization dedicated to utilizing business practices to address global priorities. The genesis of the institute goes back to the vision of either creating or becoming part of a solution that addresses threats to humanity. The Institute has identified strategic imperatives for transformation and believes that we can truly accelerate innovation to zero. To learn more about FSI, visit www.frostandsullivaninstitute.org

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Media Contact:

Bivechana Gautam
Email: Bivechana.gautam@frost.com 

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SOURCE Frost & Sullivan

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