VersaBank Subsidiary VersaVault Initiates Commercialization Stage of Its Digital Safety Deposit Box for Cryptocurrency Exchanges and Crypto Investment Funds

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Forward Looking Information Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. The VersaVault will now begin rolling out services to cryptocurrency exchanges and crypto investment funds.” About VersaBank VersaBank adopted an electronic branchless model in 1993, becoming the world’s first branchless financial institution. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement. Other than as required under securities laws, we do not undertake to update any forward-looking information at any particular time. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date.

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LONDON, Ontario — VersaBank is pleased to announce that its subsidiary, VersaVault, has successfully completed beta testing for its previously announced digital safety deposit box and is initiating commercialization of its services. The first phase of the rollout will be to provide digital safe keeping as well as multi signature services for cryptocurrency exchanges and crypto based investment funds.

The beta testing, conducted with our initial target client base, focused on ensuring VersaVault’s design would meet the specific requirements of cryptocurrency exchanges and crypto funds. Furthermore, it focused on designing a seamless, efficient and timely experience for our clients, but one which maintained the unique features of the VersaVault; providing our clients with the most technologically advanced digital and cyber-security solutions while maintaining their absolute privacy. VersaVault does not have the ability to ‘drill’ into a client’s digital safety deposit...

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