When do the banks plan to launch the network?

The banks plan to launch the network by 2027.

Why are banks seeking to compete with stablecoins?

Because stablecoins are growing rapidly and offer instant 24/7 payments, threatening banks' share of the payments market.

Which banks are involved in the project?

The participants are JPMorgan, Bank of America, Wells Fargo, and Citigroup.

Big US Banks Plan Tokenized Deposit Network by 2027 to Rival Stablecoins

Four major US banks — JPMorgan, Bank of America, Wells Fargo, and Citigroup — are planning to launch a joint tokenized deposit network by 2027, aiming to rival stablecoins by offering 24/7 instant payments using blockchain technology.

June 8, 2026

2 min read

Source: Zacks

Key Numbers

target year

2027

Four of the largest US banks — JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), and Citigroup (C) — are planning to launch a joint tokenized deposit network by 2027, according to a report from Zacks. The initiative aims to provide a competitive alternative to stablecoins by enabling instant, 24/7 payments using blockchain technology.

Project Details

The network seeks to convert traditional bank deposits into digital tokens that can be transferred and settled instantly among participating banks. The banks will leverage blockchain infrastructure to offer round-the-clock payments, similar to stablecoins but within a regulated banking framework.

Context

The move comes as stablecoins experience rapid growth, with their market capitalization surpassing $200 billion in 2026. Traditional banks face increasing pressure to modernize payment systems to maintain market share.

What This Means for Investors

If successful, the network could strengthen the banks' position in digital payments and open new revenue streams from transaction fees. However, regulatory and technical challenges remain, and the network may take years to become widely operational.

Frequently Asked Questions

Tokenized deposits are digital representations of traditional bank deposits on blockchain, enabling instant transfer and settlement.

Found this useful? Share it

This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.