tokenized deposit network

JPMorgan and Citi-backed Clearing House plan to launch a tokenized deposit network in 2027 to counter competition from stablecoin companies entering traditional finance (TradFi). The initiative involves major banks responding to the growing influence of stablecoin firms in financial markets.

A consortium backed by JPMorgan and Citigroup plans to launch a tokenized deposit network in early 2027, enabling instant tokenized deposits and around-the-clock settlement, as reported by the Wall Street Journal.