USBC Draws $5M Additional Loan and Updates Tokenized Deposit Product Development

USBC, Inc. filed a Form 8-K reporting two key developments. First, the company drew an additional $5.0 million fixed-rate borrowing under its Master Loan Agreement with Payward Interactive, bringing total outstanding borrowings to $10.0 million. This loan bears 8.5% interest and matures on April 27, 2027, secured by Bitcoin collateral held with Payward Financial. Second, the company provided an update on its tokenized deposit product development, noting that Phase 1 testing with internal users is progressing and development costs are accelerating. The company has incurred approximately $3.5 million in reimbursements to Vast Holdings for development-related costs under a $10.5 million cap agreement that expires December 31, 2026. The filing includes forward-looking statements about product development timelines and potential retail launch.