Major U.S. banks are working together to develop blockchain payment rails through The Clearing House, a planned network aiming for a 2027 launch.
The proposed system would allow bank-issued deposits to move across digital infrastructure more efficiently, supporting faster transfers and continuous settlement services throughout the day.
This effort comes as stablecoins attract increasing market attention, with financial institutions monitoring changing payment preferences closely.
The participating banks - JPMorgan, Citi, Bank of America, and Wells Fargo - are pursuing tokenized deposit technology, which keeps deposits within traditional banking networks while leveraging blockchain technology for faster transactions.