The new network could help banks contend with a wave of new competition from stablecoins and crypto firms. A company called the Clearing House, which is co-owned by large commercial banks, will operate the network, according to Wall Street Journal.
The largest U.S. banks plan to launch a tokenized deposit network next year, an attempt to stave off threats from crypto companies that are seeking to wade deeper into their territory under President Trump.
The new network will connect traditional payment rails with the infrastructure that digital assets run on. It will be operated by a real-time payment network company called the Clearing House, which is co-owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other large commercial banks.
The platform will enable blockchain-based, 24/7 settlement of tokenized deposits and is intended to help banks compete with the growing adoption of stablecoins.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
