JPMorgan, Citi, Bank of America Launch Tokenized Payment Network to Challenge Stablecoins
Major U.S. banks including JPMorgan Chase (JPM), Citigroup (C), and Bank of America (BAC) are developing a shared tokenized deposit network through The Clearing House with an expected launch in early 2027. This initiative aims to provide faster, continuous settlement capabilities while reducing reliance on stablecoins by keeping transactions within the regulated banking system.
Topics: banking_innovation central_banks stablecoins tokenized_deposits