Datavault Pushes Into Banking Realm With BankWyse Acquisition
Data monetization and real-world asset tokenization company Datavault AI is set to acquire Wyoming financial institution BankWyse. “This acquisition adds the final piece to Datavault AI’s data monetization ecosystem,” the company said in a news release Wednesday (Aug. 19). “BankWyse operates under a Special Purpose Depository Institution charter granted by the state of Wyoming – generally viewed…
Datavault AI, a company specializing in data monetization and real-world asset tokenization, is acquiring Wyoming-based financial institution BankWyse. Datavault sees this acquisition as completing its data monetization ecosystem. BankWyse operates under a Special Purpose Depository Institution charter granted by Wyoming, known for its innovative approach to digital assets.
The acquisition will provide custodial, commercial banking and other services in a secure and compliant manner. Datavault has been working to serve the digital asset ecosystem using AI and technology to offer safe and compliant platforms for customers. Customers will provide Datavault with their data and real-world assets, which will then be valued, tokenized, and held in custody, with the potential for sale on Datavault's exchanges.
The company believes this end-to-end data monetization ecosystem will eliminate market friction and fractionalization. SPDI is a regulatory framework established in 2020 for digital asset businesses, allowing them to custody digital assets and provide banking services while avoiding traditional lending risks. Datavault's acquisition of BankWyse follows its recent purchase of cybersecurity company CyberCatch, which will add real-time risk and compliance signals to Datavault's data value, data scoring, and IDE systems.
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