They intend to implement the initiative through the Clearing House, a private payment company owned by JPMorgan, BoFA, Citigroup, Wells Fargo, and other major banks. The first users of the network will be large global companies looking to optimize payment and treasury operations. The Clearing House will be able to support 24/7 liquidity movement, cross-border payments, and treasury management operations. Clearing House CEO David Watson stated that this initiative marks the banks' transition to a future built on blockchain-based payments and finance.
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Major American banks, including JPMorgan and Citi, plan to launch a network of tokenized deposits in early 2027.
They intend to implement the initiative through the Clearing House, a private payment company owned by JPMorgan, BoFA, Citigroup, Wells Fargo, and other major banks. The first users of the network wil...