JP Morgan Chase, Bank of America, and Citigroup are among the large US lenders planning a shared tokenized deposit network through The Clearing House in the first half of 2027.

The network would let deposits move on blockchain infrastructure with round-the-clock settlement.

The Clearing House is a bank-owned payments operator in the US that runs RTP and CHIPS. Its RTP network processed 1.8 million instant payments worth US$5.2 billion in a single day.

Unlike stablecoins such as USDC and USDT, tokenized deposits remain liabilities of the issuing bank.

That could help them fit within existing deposit-protection and prudential frameworks, giving lenders an alternative as stablecoins spread from crypto trading into cross-border payments and savings products.

US oversight is still developing. The Federal Deposit Insurance Corporation said it would explore clarity for tokenized deposits, while agencies have said tokenized securities generally receive the same capital treatment as their traditional form.

The plan also follows earlier industry tests, including a New York Federal Reserve project that simulated domestic and cross-border settlement using tokenized commercial bank and central bank liabilities on a shared ledger.

🔗 Source: CoinDesk

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