Largest US Banks to Launch Tokenization Network to Fight Back Against Crypto, Stablecoin Startups

Largest US Banks to Launch Tokenization Network to Fight Back Against Crypto, Stablecoin Startups

The traditional banking industry has a long history of consortium blockchain systems that haven’t fared well.

America's Biggest Banks Are Building Their Own Answer to USDT and USDC

JPMorgan, Bank of America, Citigroup and Wells Fargo are planning a shared tokenized deposit network through The Clearing House by early 2027, a direct response to the two dollar stablecoins that now sit inside crypto's top five.

JPMorgan, Citi and Bank of America Plan Shared Tokenized Deposit Network to Challenge Stablecoins - CryptoGazette

JPMorgan, Citi and Bank of America Plan Shared Tokenized Deposit Network to Challenge Stablecoins Four of the largest U.S. banks — JPMorgan Chase, Citigroup, Bank of America and Wells Fargo — are building a shared tokenized deposit network through the Clearing House, aiming to fend off stablecoin competition while keeping funds inside the regulated banking...…