JPMorgan, Citi, and major US banks are preparing a shared tokenized deposit network with 24/7 settlement targeted for 2027.
Tokenization News
A consortium of the largest US banks is preparing to bring instant, round-the-clock settlement to traditional deposits. JPMorgan Chase, Citigroup, and other major lenders plan to launch a shared tokenized deposit network as soon as the first half of 2027, according to the Wall Street Journal.
The network would allow tokenized deposits to move between banks in real time and settle at any hour, extending bank transfers well past standard business windows. It would run on the Clearing House, a private payments firm the banks own together, with JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo among its backers. Inside the group, the project goes by two working names: "the bridge" and "the chain."
Large multinational companies are expected to be the first users. The draw for them is faster payments and simpler treasury operations, and the platform is built to handle round-the-clock liquidity, cross-border payments, and treasury management.
Clearing House Chief Executive David Watson described the effort as a "big move for the banks." He told the WSJ the industry faces a "radically different" future built around on-chain payments and finance.
A Tokenization Push Already Underway
Rather than a sudden pivot, the plan builds on a tokenization push that major banks have run for more than a year. In November 2025, JPMorgan brought its dollar-denominated deposit token, JPM Coin, to institutional clients on the Base layer-2 network, after months of testing.
Other lenders have followed similar paths. BNY launched a tokenized deposit service for institutional clients, issuing blockchain-based records of the deposits clients hold at the bank. Around the same period, Singapore's DBS and Kinexys by JPMorgan said they were building an interoperability framework to move tokenized deposits between their separate on-chain systems.
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