If You Invested in USBC INC. (USBC)

USBC, Inc. (NYSE American: USBC) is a publicly traded, multi-disciplinary technology company that focuses on digital financial technologies and non-invasive health monitoring research. According to its SEC registration statements and company disclosures, USBC develops financial services that include digital assets and banking solutions while maintaining technology capabilities from its legacy sensor business in the non-invasive medical technology space.

The company is incorporated in Nevada and its common stock is listed on the NYSE American under the ticker symbol USBC. USBC describes itself as an innovator in digital financial technologies, with a key emphasis on a U.S.-dollar denominated tokenized deposit offering that operates on blockchain technology and is embedded with digital identity. This tokenized deposit concept is presented as a tokenized representation of a U.S. bank deposit account, designed to combine traditional banking protections with the programmability of blockchain-based finance.

Business focus and tokenized deposits

USBC’s public filings and news releases highlight the USBC tokenized deposit offering as a central focus. The company states that this product is a U.S.-dollar denominated tokenized deposit that operates on blockchain technology, is embedded with digital identity, and, in some descriptions, is associated with high-yield rewards. In its overview in SEC filings, USBC explains that this tokenized deposit is intended to represent a bank deposit account on-chain, with the objective of enabling compliant, programmable digital dollars.

In an October 2025 news release, USBC announced a preliminary strategic partnership with Uphold, described as an infrastructure provider for on-chain finance, and Vast Bank, N.A., a nationally chartered U.S. bank. Under the non-binding memorandum of understanding, Vast Bank is identified as the initial issuing bank for USBC’s tokenized deposit offering. The company states that the tokenized deposits are designed so that the underlying deposits at the bank are intended to be eligible for FDIC insurance up to applicable federal limits and subject to Regulation E protections, while being recorded and transferred on a permissioned blockchain operated by USBC.

USBC contrasts its tokenized deposits with traditional stablecoins, emphasizing that its product is described as a digital representation of real U.S. dollars held in a U.S. bank deposit account and issued by a bank regulated under U.S. law. The company highlights three advantages in its public communications: safety through bank-held deposits, regulatory alignment via a permissioned blockchain and digital identity, and programmability that enables instant settlement, real-time international payments, smart contract automation, and continuous access to financial services.

Corporate evolution and legacy sensor technology

USBC’s SEC filings explain that, until August 2025, the company operated under the name Know Labs, Inc. and historically focused on the development and commercialization of proprietary sensor technology utilizing radio and microwave spectroscopy for non-invasive medical applications. Following a strategic transaction with Goldeneye 1995 LLC, the company announced a transition into a broader, multi-disciplinary enterprise that continues its research program and activities in non-invasive medical technology while expanding into digital assets and banking technologies.

The company notes that it maintains technology capabilities from its legacy sensor business as part of its multi-division structure. In its S-1 and related disclosures, USBC describes itself as combining a strategic Bitcoin reserve with a focus on both non-invasive medical technology and financial technology, positioning this combination as a basis for potential long-term value creation.

Bitcoin treasury strategy

USBC’s filings describe a Bitcoin treasury strategy established in connection with a controlling-interest investment by Goldeneye 1995 LLC. The company reports that it views its Bitcoin holdings as long-term treasury reserve assets and intends to use them to generate yield and provide liquidity to support existing operations and the expansion of new business lines. To implement this strategy, USBC has entered into a Digital Asset Management Agreement, later amended and restated, with Hyrcanian Asset Management, LLC, which provides discretionary treasury management services focused on buying and selling call options on the company’s Bitcoin holdings.

In its prospectus summary, USBC explains that its Bitcoin treasury trading strategy is intended to increase its Bitcoin holdings through premiums collected on options, with the maximum notional exposure limited to the balance of its Bitcoin treasury. The company also notes that it considers Bitcoin a primary treasury reserve asset and that the Bitcoin treasury operates alongside its non-invasive medical technology research and, when launched, its tokenized deposit offering.

Capital structure and strategic transaction

USBC’s registration statements describe a significant capital transaction with Goldeneye 1995 LLC. On August 6, 2025, the company issued 357,815,000 shares of common stock to Goldeneye in exchange for 1,000 Bitcoin and $15 million in cash, pursuant to a Securities Purchase Agreement dated June 5, 2025. This transaction is characterized in the filings as a $125 million strategic controlling-interest acquisition by Goldeneye. Following this closing, the company changed its corporate name from Know Labs, Inc. to USBC, Inc. and its ticker symbol on the NYSE American to “USBC.”

USBC’s S-1 and S-1/A filings also describe a registration of shares held by several selling stockholders, including Goldeneye and other parties that received common stock as compensation or in connection with the redemption of preferred stock. The company identifies itself as a smaller reporting company under U.S. securities laws, which allows it to use reduced public company reporting requirements.

Equity incentives and governance developments

USBC’s recent Form 8-K filings provide additional context on its governance and equity incentive structure. In September 2025, stockholders approved an Amended and Restated 2021 Equity Incentive Plan that increased the number of shares authorized for issuance, permitted certain repricings and exchanges of awards, and amended an evergreen provision related to automatic share increases. Subsequent filings describe a repricing of certain stock options and the grant of additional options to executives and directors under this plan.

The company has also reported changes in its board and executive team, including the resignation of a director and the mutual agreement for the departure of its Chief Operating Officer, along with a separation agreement and forfeiture of unvested option awards. These governance disclosures illustrate USBC’s ongoing evolution following its strategic pivot and capital transaction.

Industry classification and sector

Based on the provided classification, USBC is associated with the Scientific & Technical Instruments industry within the Technology sector. Its legacy operations in proprietary sensor technology and its ongoing non-invasive health monitoring research align with this classification. At the same time, the company’s own descriptions emphasize its role in digital financial technologies, digital assets, and banking solutions, reflecting a cross-sector profile that spans both financial technology and scientific instrumentation.

USBC’s stated objectives

Across its news releases and SEC filings, USBC consistently states that it aims to create long-term shareholder value in a rapidly evolving financial landscape. It highlights themes of identity, inclusion, innovation, and risk management as guiding principles for its tokenized deposit initiative and broader financial technology strategy. The company also emphasizes regulatory alignment and consumer protections in its description of tokenized deposits, particularly through collaboration with a nationally chartered U.S. bank and the use of a permissioned blockchain with embedded digital identity.

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