Largest US Banks to Launch Tokenized Deposit Network

The largest US banks are developing a tokenized deposit network to launch through Clearing House. JPMorgan Chase, Citigroup, Wells Fargo, and Bank of America are involved. The initiative responds to stablecoin growth and the Clarity Act. Tokenized deposits will be issued by banks, not private companies, and remain under traditional banking regulations. The technical details and network type are still unclear.