USBC appoints Richa Pareek as Chief Product Officer

RENO, Nev., Sept. 01, 2026 /CourierPR/ -- USBC, a technology firm specializing in transforming traditional U.S. bank dollars into secure, compliant tokenized deposits, has announced the appointment of Richa Pareek as Chief Product Officer. Pareek, who brings over 15 years of experience in payments and product development from roles at JPMorgan Chase, Coinbase, Uber, and Google, will guide USBC's product roadmap as the company prepares to launch its tokenized deposit offering.

Greg Kidd, Chairman and CEO of USBC, expressed enthusiasm about Pareek’s addition to the leadership team. "Richa's impressive background in scaled financial infrastructure makes her a perfect fit for our vision. She has the technical and cultural expertise to take our product to the next level and will be instrumental as we move closer to introducing our platform to the public."

Pareek, in her new role, is excited to contribute to the development of infrastructure that addresses a long-standing industry challenge: the choice between fast-moving internet money and secure financial protections. "The vision is clear, the head start is real, and the timing is right," she said, emphasizing that USBC has built a platform that integrates real dollars with privacy-preserving technology and digital identity.

Pareek's extensive experience spans multiple financial institutions and tech giants. At JPMorgan Chase, she served as Executive Director of Product and led the development of the Wallet-as-a-Service platform, which supports over 60 million cardholders. Her time at Coinbase saw her lead the global Payments Platform during its highest-volume years, handling transactions worth $50 billion annually. Prior to these roles, Pareek held product leadership positions at Uber, Google, and Yodlee, working on issuer infrastructure, wallets, developer platforms, and global money movement systems.

USBC's product development has been in progress for some time. The company has developed the core infrastructure and completed initial technical readiness testing with a limited group of internal users. USBC tokenized deposits are digital representations of U.S. dollar-denominated bank deposits, initially issued by Vast Bank and recorded on the USBC network ledger. The network operates on a permissioned ledger derived from the open-source Solana blockchain protocol. These deposits are held in individual accounts, eligible for FDIC insurance, and are designed to offer the benefits of traditional banking while leveraging blockchain technology.

Pareek will lead the next phase of platform development, ensuring that the insights gained through testing are applied to refine USBC's technology, processes, and risk-management tools. This phase will expand testing to additional invited participants, with the ultimate goal of a broader rollout.

USBC, Inc. (NYSE American: USBC) is committed to creating long-term shareholder value in a rapidly evolving financial landscape. The company’s focus on inclusion, innovation, and risk management is reflected in its ongoing development of the USBC tokenized deposit offering, which operates on blockchain technology and is embedded with digital identity.

Forward-looking statements in this press release, including those regarding the Company's continued development and anticipated future launch of its tokenized deposit offering, are subject to risks and uncertainties, including regulatory approvals, market adoption, and technological developments. The Company cautions that actual results may differ materially from those expressed in these forward-looking statements.