According to CoinDesk, BitGo and ZKsync have announced a partnership to launch a full-stack infrastructure for tokenized deposits targeting banking institutions, with the platform now in testing phase. This collaboration combines BitGo’s institutional-grade custody and wallet services with Prividium, a permissioned chain network developed by Matter Labs, ZKsync’s parent company. The infrastructure is designed to enable banks to issue, transfer, and settle tokenized deposits within existing regulatory frameworks, while supporting programmable payment functionality. Unlike stablecoins, tokenized deposits keep funds within the traditional banking system, enabling on-chain programmable transactions without altering current regulatory structures. Matter Labs CEO Alex Gluchowski stated that tokenized deposits represent "the way banks can bring funds on-chain without leaving the regulatory framework."
BitGo and ZKsync Partner to Build Tokenized Deposit Infrastructure for Banks
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Summary
BitGo has partnered with ZKsync to build a full-stack infrastructure for tokenized deposits designed for banks. The platform, currently in testing, integrates BitGo’s custody and wallet services with Matter Labs’ Prividium network. It enables the issuance, transfer, and settlement of tokenized deposits in compliance with existing regulations, supporting programmable payments. The network upgrade improves compatibility with institutional adoption. Unlike stablecoins, tokenized deposits remain within the traditional banking system while enabling on-chain transactions.
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