Tokenized Deposits

A group of major global banks has completed real cross-border payments using tokenized central bank reserves and commercial bank deposits in a BIS-led pilot. The test points to growing institutional interest in shared-ledger settlement as banks seek faster, more traceable international payments.

Crypto executives and banking leaders increasingly see younger consumers moving toward wallets that hold stablecoins, tokenized deposits and other digital assets. The shift points to a future where banks remain important, but the standalone bank account may no longer be the default financial hub.

Swift is preparing live transaction tests for a blockchain-based shared ledger with 17 major banks, including HSBC, UBS, Wells Fargo and Citi. The platform is designed to support tokenized deposits and regulated digital money while keeping final settlement connected to existing payment rails.

JPMorgan says it supports a U.S. framework for digital assets, but only if lawmakers close regulatory gaps instead of creating new ones. The bank is pressing for tougher safeguards on stablecoins, tokenized deposits and market integrity rules as the Clarity Act debate continues.

Anchorage Digital is rolling out a new platform to help banks issue and manage tokenized deposits on blockchain rails. The move targets round-the-clock settlement while avoiding major changes to core banking systems.