ChainCatcher reports that ZKsync has announced a collaboration with five U.S. regional banks to develop the Cari Network, a tokenized deposit network. Built on Matter Labs’ Prividium platform, the network utilizes a privacy-preserving, permissioned blockchain infrastructure. Participating banks include Huntington Bank, First Horizon, M&T Bank, KeyBank, and Old National. Cari Network is positioned as a secure, private, and regulatory-compliant infrastructure where tokenized deposits exist directly as bank liabilities and are eligible for FDIC insurance, aiming to bring the $8.3 trillion in assets held by regional banks on-chain to enable round-the-clock programmable digital currency services.
ZKsync Partners with Five U.S. Regional Banks to Launch Cari Network for Tokenized Deposits
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Summary
ZKsync has launched a network upgrade in partnership with five U.S. regional banks to build Cari Network, a tokenized deposit platform. Built on Matter Labs' Prividium, the network utilizes a privacy-focused, permissioned blockchain. Participating banks include Huntington Bank, First Horizon, M&T Bank, KeyBank, and Old National. Cari Network will tokenize deposits as bank liabilities, preserving FDIC insurance and enabling 24/7 digital services for $830 billion in assets. This token launch represents a major step in bridging traditional finance and blockchain infrastructure.
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