---
schema_version: "secwatch.filing_event.v1"
accession: "0001074828-26-000030"
form_type: "8-K"
ticker: "USBC"
cik: "0001074828"
company_name: "USBC, Inc."
filed_at: "2026-06-04T13:15:02+00:00"
generated_at: "2026-06-04T13:16:29.535486+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# USBC tokenized deposit testing advances; $3.9M spent; additional $5M Bitcoin loan drawn

## Summary
- 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.

## SEC filing metadata
- accession: 0001074828-26-000030
- form_type: 8-K
- ticker: USBC
- cik: 0001074828
- company_name: USBC, Inc.
- filed_at: 2026-06-04T13:15:02+00:00
- event_type: other_material
- 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/1074828/000107482826000030/0001074828-26-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1074828/000107482826000030/usbc-20260601.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001074828-26-000030
- JSON: https://secwatch.observer/filing/0001074828-26-000030.json
- Plain text: https://secwatch.observer/filing/0001074828-26-000030.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1074828/000107482826000030/0001074828-26-000030-index.htm

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