USBC, Inc. (USBC): debt financing — USBC tokenized deposit testing advances; $3.9M spent; additional $5M Bitcoin loan drawn

USBC, Inc.

Drew $5M under Master Loan Agreement with Payward Interactive, total outstanding $15M at 8.5%, matures June 1, 2027, secured by Bitcoin.
Tokenized deposit product testing completed for core features (ACH funding, spending, treasury conversion); limited market testing planned.
Development costs accelerating; $3.9M reimbursed to Vast Bank under $10.5M cap as of May 31, 2026.
Collateral coverage would hit 130% margin call on ~13% Bitcoin price drop; no calls or liquidations as of June 3, 2026.

item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

USBC, Inc. incurred credit facility of $5.0 million with Payward Interactive at 8.5% per annum maturing June 1, 2027.

Instrument: credit facility
Principal: $5.0 million
Counterparty: Payward Interactive
Rate: 8.5% per annum
Maturity: June 1, 2027
Event: incurrence

Exact text from the filing

drew an additional fixed-rate borrowing of $5.0 million (the "Third Draw") under its previously disclosed Master Loan Agreement with Payward Interactive (the "Lender") 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. The Third Draw increases the aggregate principal amount outstanding under the MLA to $15.0 million which bears interest at a rate of 8.5% per annum maturing on June 1, 2027

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USBC, Inc. filing history →

Source: SEC EDGAR

accession 0001074828-26-000030

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