The initiative would enable tokenized deposits to move instantly and support around-the-clock settlement, the Wall Street Journal reported.

The initiative would enable tokenized deposits to move instantly and support around-the-clock settlement, the Wall Street Journal reported.

The largest U.S. banks are planning a tokenized deposit network, positioning regulated bank money directly against stablecoins.

JPMorgan, Citi and Big Banks Plan New Tokenized Deposit System to Answer Crypto

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.

JPMorgan, Citi and Big Banks Plan New Tokenized Deposit System to Answer Crypto

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.