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American's biggest banks program to present a shared tokenized web adjacent twelvemonth to tackle the imaginable menace of stablecoins eating into their deposits.
Jun 5, 2026, 9:16 a.m. 2 min read
America's biggest banks, including JPMorgan, Citi and Bank of America, program to physique a shared, tokenized deposit web by the archetypal fractional of 2027 to support their deposits from the menace posed by stablecoins, the Wall Street Journal reported.
The strategy volition beryllium operated by The Clearing House, the payments institution collectively owned by the banks. Some banks are calling the web "the bridge," others telephone it "the chain," the WSJ said.
Tokenized deposits are blockchain representations of customers' wealth held astatine a bank. The planned strategy volition person these deposits into a integer token that tin beryllium transferred swiftly connected a blockchain.
Stablecoins are dollar-pegged integer assets issued by crypto companies that unrecorded extracurricular the accepted banking system. The Clarity Act authorities presently advancing done Congress could let them to wage returns to holders, perchance making slope deposits little charismatic due to the fact that the tokens besides connection faster, cheaper outgo capabilities implicit a blockchain.
If customers follow stablecoins astatine scale, banks could look a deposit formation to crypto wallets, and deposits are what banks trust connected to widen recognition successful the economy. The tokenized deposit web is designed to guarantee deposits stay wrong the banking strategy portion giving them crypto-like capabilities.
The WSJ study said the Clearing House expects ample multinationals to clasp the tokenized deposit web arsenic a gateway to programmable treasury options, real-time liquidity absorption and cross-border payments.
"This is simply a large determination for the banks," CEO David Watson told the newspaper, describing a "radically different" aboriginal astir onchain payments.
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