JPMorgan, Citi, Bank of America to Launch Tokenized Deposit Network in 2027: Report
The network would let bank deposits move on a blockchain while keeping funds inside the banking system, the Wall Street Journal reported.
- America's biggest banks, including JPMorgan and Citi, plan to build a shared, tokenized deposit network by the first half of 2027, the Wall Street Journal reported.
- Tokenized deposits are blockchain representations of funds held at a bank, designed to prevent deposit flight to crypto wallets if customers adopt stablecoins at scale.
- Operated by The Clearing House, the system converts deposits into digital tokens for swift blockchain transfers; banks have nicknamed it 'the bridge' or 'the chain,' The WSJ reported.
- The Clarity Act, legislation currently advancing through Congress, could allow stablecoins to pay returns, potentially making bank deposits less attractive as tokens offer faster, cheaper payments.
- Clearing House expects multinationals to embrace the network for programmable treasury and real-time liquidity management capabilities. "This is a big move for the banks," CEO David Watson said, describing a "radically different" future.
23 Articles
23 Articles
JPMorgan, Citi, Bank of America to Launch Tokenized Deposit Network in 2027: Report
JPMorgan, Citi, Bank of America and other financial giants are planning a tokenized deposit system for early 2027 to meet the growing competition from stablecoin companies.
JPMorgan, Bank of America and Citi are going on the blockchain offensive with a shared tokenized network
American's biggest banks are launching a shared tokenized network next year to fight back against the potential threat of stablecoins eating into their deposits.
Santander has just taken a step that places it on a very concrete financial map: that of tokenized deposits. It is not a minor pilot. The bank chaired by Ana Botín has joined as the only big bank of the eurozone in an initiative led by The Clearing House (TCH), the clearing house that moves more than two billion dollars a day in the United States. Along with names like JPMorgan, Citi, Bank of America or Wells Fargo, Santander is betting on a mod…
America’s Largest Banks Back Tokenized Deposit Network in Push Against Stablecoins
Some of the largest U.S. banks, including JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo, are planning to launch a shared tokenized deposit network by the first half of 2027 as traditional lenders move to counter the growing influence of stablecoins and on-chain payment firms. The system will be operated by The Clearing House, a real-time payments company owned by major U.S. banks, and will allow deposits held at banks to be repres…
US Banks Unite on Blockchain to Shield Deposits from Stablecoin Threat
The world of payments is changing fast. Big US banks are now working together on a new plan to keep their strong position in handling money and deposits. They want to use blockchain technology to offer faster and better services while holding onto customer funds. What Is Driving This Move Banks face growing pressure from stablecoins and crypto companies. These new players can move money quickly and run all day every day. To fight back, major ban…
JPMorgan, Citi and Major US Banks Team Up to Launch Tokenized Deposit Network
Major U.S. banks, JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo, are collaborating on a shared tokenized deposit network set to launch in the first half of 2027. The network which will operate on a blockchain infrastructure, will enable instant 24/7 settlement and programmable payments while keeping every dollar inside the regulated banking system. […] The post JPMorgan, Citi and Major US Banks Team Up to Launch Tokenized Deposit N…
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