US Banks Unite to Launch Tokenized Deposit Network

The largest U.S. banks are planning to launch a joint tokenized deposit network, which will link traditional payment rails with blockchain infrastructure by 2027.

The network will allow deposits to move on-chain with 24/7 settlement and programmable functionality. This will enable banks to offer their customers more efficient and secure payment services.

JPMorgan Chase is already ahead of the curve, having launched its JPM Coin on Coinbase's Base network in late 2025 for institutional clients. The bank has also expanded its product to the Canton Network in 2026.