A consortium backed by JPMorgan, Citi, and other major banks is planning to launch a tokenized deposit network in early 2027, according to the Wall Street Journal. The initiative would allow tokenized deposits to move instantly between institutions and enable around-the-clock settlement, addressing longstanding inefficiencies in traditional banking infrastructure. Unlike stablecoins, tokenized deposits represent actual bank liabilities, keeping transactions within the regulated banking system. The move signals growing momentum among established financial institutions to adopt blockchain-based rails for interbank transfers. If successful, the network could reshape how large-scale dollar settlements are conducted, offering a bank-led alternative to crypto-native payment solutions at a time when regulatory clarity around digital assets is improving in the United States.
— Sponsored —
Trade smarter on BYDFI
Get a bonus on your first deposit — from $50 at $100, up to $2,000 at $20k. 200x leverage, 600+ perpetuals, deep liquidity.