Ault Blockchain launches tokenized asset network to reduce reliance on banks

Ault Capital has developed a Cosmos-based Layer-1 network for tokenized assets and digital settlement following banking disruptions. The project aims to minimize the role of traditional financial institutions in settlement while facilitating decentralized trading and onchain financial applications. It is designed as infrastructure for compliant businesses that may lose banking access despite regulatory compliance. Built by Ault Capital Group, a subsidiary of Hyperscale Data, the blockchain supports tokenized real-world assets and institutional settlement, combining Cosmos Layer-1 architecture with Ethereum Virtual Machine compatibility for smart contracts. The initiative arises amid U.S. legislative discussions on banking access for crypto companies. Ault Blockchain founder Todd Ault cited banking issues faced by his companies, including a loss of access to funds during COVID-19. The network aims to provide settlement infrastructure that remains operational without banking relationships, emphasizing continuous access over merely reducing fees or speeding transactions. Ault Capital launched the network's public testnet in February, enabling institutional onchain trading and settlement while allowing developers to access its EVM environment. Ault Blockchain will operate under a Wyoming DAO LLC structure, requiring identity checks for participants and implementing limits on voting rights to prevent control concentration. The company does not plan a public token sale, instead distributing tokens based on mining-node participation and network activity, aligning token allocation with ecosystem contributions.

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