**[Vantage and Rio Bank Complete First Tokenized Deposit Loan Participation Payment]** According to a report by Jinse Finance, on October 22, Vantage Bank and Rio Bank used the Hazel Network to tokenize deposits and completed the principal and interest payment for loan participation via the Participate loan service platform. Participate stated that after Vantage submitted the payment, the platform completed the distribution of principal and interest, and the tokenized deposit reached the recipient institution's digital wallet in less than three minutes. The loan balance and payment notifications were automatically updated in sync, integrating traditional processes that relied on wire transfers, spreadsheets, and email notifications. This payment was announced on October 19. This payment marks the first implementation of the collaboration between the two banks since April of this year. Custodia CEO Caitlin Long confirmed that the transaction occurred on the Ethereum mainnet. Hazel was jointly developed by Vantage and Custodia: Participate (a subsidiary of BankLabs) provides loan workflow and payment instructions, Vantage offers banking services and reserves, and Custodia handles wallet, blockchain operations, compliance, and reconciliation monitoring. According to the Hazel white paper, this settlement model includes both on-chain and traditional bank ledger records, with transactions restricted to authorized participants. Customer identity and account information are kept off-chain. Participate plans to offer tokenized deposit and Fedwire payment automation services to 750 banks for loan participation and syndication payments.