The largest US banks are planning a shared tokenized deposit network that would allow money to move around the clock on blockchain infrastructure, the Wall Street Journal reported on what could become one of the banking industry's most significant responses yet to the rise of stablecoins.
Big Banks Plot Tokenized Deposit Network to Counter Stablecoin Threat: WSJ
5 June 2026 - 13:29 CEST
By Sandmark staff
According to the report, JPMorgan Chase, Bank of America, Citigroup and Wells Fargo, through bank-owned payments operator The Clearing House, are targeting a launch in the first half of 2027.
The network would enable tokenized deposits - traditional bank deposits represented on a blockchain - to settle instantly and operate 24/7, it said.
The article cited remarks by The Clearing House Chief Executive David Watson.
