Major US Banks to Launch Tokenized Deposit Network in H1 2027

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According to the Wall Street Journal, major US banks including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are preparing to launch a tokenized deposit network in the first half of 2027. The network will be operated by The Clearing House, a payment institution jointly owned by these banks. The system will enable instantaneous transfers of tokenized bank deposits with 24/7 reconciliation infrastructure, allowing corporations to manage liquidity more efficiently and accelerate cross-border payments.
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