---
schema_version: "secwatch.filing_event.v1"
accession: "0001074828-26-000023"
form_type: "8-K"
ticker: "USBC"
cik: "0001074828"
company_name: "USBC, Inc."
filed_at: "2026-05-01T23:59:59+00:00"
generated_at: "2026-05-15T00:13:26.283081+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# USBC draws $5M under MLA (total $10M); tokenized deposit Phase 1 testing ongoing

## Summary
- USBC drew additional $5M under existing Master Loan Agreement with Payward Interactive, increasing total borrowings to $10M.
- Loan carries 8.5% interest, matures April 27, 2027, secured by Bitcoin collateral held at Payward Financial.
- Phase 1 tokenized deposit testing ongoing; development costs accelerating, $3.5M reimbursed to Vast Holdings under $10.5M cap.
- Results from Phase 1 will inform timing of subsequent phases and potential retail product launch.

## SEC filing metadata
- accession: 0001074828-26-000023
- form_type: 8-K
- ticker: USBC
- cik: 0001074828
- company_name: USBC, Inc.
- filed_at: 2026-05-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1074828/000107482826000023/0001074828-26-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1074828/000107482826000023/usbc-20260427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001074828-26-000023
- JSON: https://secwatch.observer/filing/0001074828-26-000023.json
- Plain text: https://secwatch.observer/filing/0001074828-26-000023.txt

## Key facts
- Debt Financings
  USBC, Inc. incurred credit facility of $5.0 million with Payward Interactive at 8.5% per annum maturing April 27, 2027.
  - Instrument: credit facility
  - Principal: $5.0 million
  - Counterparty: Payward Interactive
  - Rate: 8.5% per annum
  - Maturity: April 27, 2027
  - Event: incurrence
  source text: On April 27, 2026, USBC, Inc. (the “Company”) drew an additional fixed-rate borrowing of $5.0 million (the "Second Draw") under its previously disclosed Master Loan Agreement with Payward Interactive dated March 18, 2026 (the “MLA”), which provides for borrowings of up to $25.0 million in aggregate principal amount for up to a twelve-month term, subject to the execution of one or more individual loan term sheets.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1074828/000107482826000023/0001074828-26-000023-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.