JPMorgan, Bank of America, Citi to Launch Tokenized Deposit Network by H1 2027

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According to Wall Street Journal, JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and other major U.S. banks plan to launch a shared tokenized deposit network by the first half of 2027. The network will be operated by The Clearing House, a real-time payments company jointly owned by participating banks. Unlike stablecoins, tokenized deposits are conventional bank deposits represented on blockchain infrastructure, retaining the same regulatory treatment and credit-risk profile as existing deposits. The system will enable 24/7 settlement, low fees, and near-instant transfers while keeping customer funds within the regulated banking system.
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