BREAKING: Wall Street Banks Launch Tokenized Deposit Network to Challenge Stablecoins
Major U.S. banks are joining forces to bring blockchain based deposits into mainstream finance.
* JPMorgan, Bank of America, Citi, Wells Fargo, and HSBC are building a shared tokenized deposit network through The Clearing House.
* The blockchain network is expected to launch next year.
* It will connect each bank's internal blockchain systems, initially supporting wholesale payments and liquidity management.
* The initiative comes as stablecoins like USDT and USDC continue gaining traction in global payments.
* Stablecoin transaction volume reached approximately $33 trillion in 2025, with Bloomberg Intelligence projecting payment flows could exceed $50 trillion by 2030.
The move highlights how traditional banks are accelerating blockchain adoption as competition from stablecoins reshapes the future of payments and settlement.
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