JPMorgan Chase, Citibank, and other major U.S. banks plan to jointly build a shared tokenized deposit network.

CoinFeed reported on June 5th that, according to Cryptopolitan, major US banks including JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo are establishing a shared tokenized deposit network through a clearinghouse, with a planned launch in early 2027. This system allows banks to achieve real-time, 24/7 settlement of deposits on the blockchain while keeping funds within the regulated banking system. Unlike stablecoins, tokenized deposits represent actual bank deposits recorded on the blockchain, rather than independent digital assets, preserving the banks' existing credit risk profiles and regulatory and accounting frameworks. Shahmir Khaliq, head of Citigroup's services division, stated that the network represents another step towards giving banks a stronger position in capital markets and funding.