Key Takeaways:
The Wall Street Journal reports JPMorgan, Citi, BofA and Wells Fargo plan a tokenized deposit network via The Clearing House by 2027.JPMorgan’s JPM Coin already runs on Coinbase’s Base for institutional clients, giving it a head start over the broader consortium.The Cari Network, backed by five regional banks, targets a separate retail-facing tokenized deposit launch in Q4 2026.A separate consortium called the Cari Network, involving regional banks including Huntington, First Horizon, KeyCorp, M&T, and Old National, is targeting a customer-facing tokenized deposit network launch in Q4 2026 following a Q3 pilot. That effort addresses the retail side of the market while the major-bank initiative focuses on wholesale and institutional use cases.
What It Means for Crypto
