JPMorgan, Citi, BofA, and Wells Fargo are building a shared tokenized deposit network via The Clearing House targeting H1 2027, with more than a dozen banks joining.

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.