Regional Banks Collaborate on Tokenized Deposit Platform with Cari Network

Cari Network has announced that it is advancing its tokenized deposit platform on ZKsync, a sound blockchain infrastructure. The network aims to modernize payments by keeping insured deposits at the core of economic activity.

The Cari Network represents commercial bank deposits as on-chain tokens while keeping issuance, redemption, and record-keeping inside the traditional banking perimeter. This approach enables regulated, always-on settlement without stepping outside prudential oversight.

Five regional banks - Huntington, First Horizon, M&T Bank, KeyCorp, and Old National Bank - are participating in the pilot phase, which is expected to reach its MVP (Minimum Viable Product) by March 2026. The network's infrastructure enables programmable, privacy-preserving settlement while banks retain custody, KYC/AML, and redemption controls.