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Largest U.S. banks have moved toward a shared tokenized deposit network as stablecoin firms push deeper into payments and corporate finance.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n The Wall Street Journal reported that the Clearing House will run the system, a real-time payment network owned by JPMorgan Chase<\/a>, Bank of America, Citigroup, Wells Fargo, and other major commercial banks. The network is expected to launch in the first half of 2027 and will be available to banks across the United States.<\/p>\n The planned system will connect existing bank payment rails with blockchain infrastructure used in digital assets. According to the Journal<\/a>, tokenized deposits on the network could move instantly and settle around the clock, giving banks a way to offer blockchain-based payments without pushing deposits outside the regulated banking system.<\/p>\n Clearing House CEO David Watson told the Journal that the project is \u201ca big move for the banks,\u201d adding that the industry faces a \u201cradically different\u201d future around on-chain payments and finance.<\/p>\n The banks have not selected the blockchain vendor for the network, according to the report. Some participating banks have called the project \u201cthe bridge,\u201d while others have referred to it as \u201cthe chain.\u201d<\/p>\n <\/p>\n The plan comes as banks watch crypto firms compete more directly in payments. The Journal reported that large banks have grown concerned that stablecoins<\/a> could pull deposits away from lenders if crypto companies win more business from consumers and corporations.<\/p>\n Banks and crypto firms have also clashed over stablecoin legislation that advanced recently in Washington. According to the Journal, banks remain unhappy that the rules leave room for interest-like structures on stablecoins, while crypto companies have described the proposal as a compromise.<\/p>\n Banks prefer tokenized deposits because they represent regular bank deposits on a blockchain. The Journal reported that this structure keeps the same credit risk profile, regulatory treatment, and accounting approach as traditional deposits, making it easier for banks to adopt digital payment systems under existing rules.<\/p>\n <\/p>\n The Clearing House expects large multinational companies to be among the first users of the network, according to the Journal. Potential uses include programmable treasury operations, real-time liquidity management, and cross-border payments.<\/p>\n Shahmir Khaliq, Citi\u2019s head of services, told the Journal that the network is another step that strengthens banks\u2019 role in financing, money management, and capital markets.<\/p>\n At Bank of America, Mark Monaco, head of global payments solutions, said clients are not \u201cbeating down the door\u201d for tokenized deposits. Still, he told the Journal that some interest exists and that the network would help banks stay ready as adoption develops.<\/p>\n\n\n
Banks prepare a blockchain payment network<\/h2>\n
Tokenized deposits gain ground amid stablecoin clash<\/h2>\n
Corporate treasury demand comes first<\/h2>\n