Vantage Bank CEO Jeff Sinnott and Custodia CEO Caitlin Long secure the #1 and #2 spots in American Banker’s inaugural “The Most Innovative People in Finance” ranking as live testing for their joint tokenized deposit and stablecoin network advances
, /PRNewswire/ — American Banker placed the two co-founders of Hazel Network atop its inaugural list of The Most Innovative People in Finance, naming Vantage Bank CEO Jeff Sinnott at #1 and Custodia CEO Caitlin Long at #2 among the top 50 executives reshaping the financial services industry.
The Hazel Network functions as a turnkey tokenized deposit and stablecoin network built by banks for banks and tailored to allow banks of any size to integrate programmable tokenization technology. Built with programmatic compliance and operational controls baked in, Hazel features a unique bidirectional mechanism. All tokens in the system originate as tokenized deposits among member banks. When customers send tokens outside the network, the tokens automatically convert to a GENIUS Act-compliant stablecoin, seamlessly reverting to a tokenized deposit upon return.
The parties released Hazel Network on Ethereum mainnet in April and successfully completed the first of four stages of testing.
“Blockchain and tokenization level the playing field for institutions that listen and respond to their customers’ modern payment needs,” said Jeff Sinnott, CEO of Vantage Bank. “By dedicating nearly half of our technology budget to true innovation, we’ve proven that traditional banking principles and decentralized assets can bridge successfully. Co-founding the Hazel Network alongside Custodia allows us to scale these exact efficiencies—such as slashing cross-border settlement friction—to community and regional banks nationwide.”
“We built Hazel Network to reduce the friction between the traditional banking world and its digital counterpart without creating barriers or causing asset disintermediation,” said Caitlin Long, Founder and CEO of Custodia. “Vantage brings the customer relationships and deep banking architecture expertise, while Custodia provides the digital asset infrastructure. To have our shared vision validated by American Banker as the top two innovators in finance is a testament to what bank-native digital assets can accomplish.”
Hazel Network represents a complementary partnership. Sinnott was recognized by American Banker for spearheading the first U.S. bank-issued stablecoin and driving blockchain-based payment initiatives, including an instant cross-border payment pilot for a commercial trucking firm that cut wire costs by 94 percent. Long was honored for her years of pioneering work building bank-grade digital asset infrastructure and regulatory clarity for stablecoins. The parties jointly pioneered a unified smart contract method that services both tokenized bank deposits and stablecoins within the same smart contract. The foundational token design is protected by US Patents 11,392,906, 12,450,578, 12,579,525 and others still pending. Additional patents are also pending on the unified-token model and still other subject matter.
Multiple member-based organizations in the banking industry, including the Texas Bankers Association and loan participation automation firm Participate, are providing support for banks of any size to join Hazel Network.
Banks interested in joining Hazel Network should contact Shawn Main at [email protected].
About Vantage Bank
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. Family and employee owned, Vantage Bank is headquartered in Texas and operates through a diverse set of locations across the state. 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. Visit us at www.vantage.bank.
About Custodia
Custodia is a Wyoming special purpose depository institution 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. 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.
Media contact: Leslie Ausburn, 12103268992, [email protected]
SOURCE Vantage Bank and Custodia
