<div id="readability-page-1"><div>Major U.S. banks reportedly plan to launch a tokenized deposit network as soon as the first half of 2027, in Wall Street's latest effort to integrate blockchain into traditional finance.According to a Thursday report from the Wall Street Journal, the network is expected to be operated by the Clearing House, a private-sector payments company owned by a consortium of major banks, including JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and others.The planned platform — dubbed as &#34;the bridge&#34; by some banks and &#34;the chain&#34; by others — would enable tokenized deposits to move instantly and support around-the-clock settlement.Clearing House CEO David Watson told the WSJ that the initiative marks a &#34;big move for the banks,&#34; adding that the industry faces a &#34;radically different&#34; future built around onchain payments and finance.Early customersThe network's early users are expected to be large global companies seeking to streamline payments and treasury operations. The platform could support 24/7 liquidity movement, cross-border payments, and treasury management, the report said.The initiative is part of an ongoing tokenization push by major banks. In November 2025, JPMorgan officially launched its USD-denominated deposit token JPM Coin to institutional clients on Base Layer 2, following months of testing.More recently, in January, BNY launched a tokenized deposit service for institutional clients, creating a blockchain-based representation of client deposits held at the bank.Singapore's DBS and Kinexys by J.P. Morgan also announced in November that they are developing an interoperability framework to facilitate tokenized deposit transfers between their onchain ecosystems.The Block has reached out to the Clearing House, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo for comment.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</div></div>

A consortium of major U.S. banks, including JPMorgan and Citi, plans to launch a tokenized deposit network operated by The Clearing House in early 2027. This platform aims to enable instant, 24/7 settlement for institutional clients, supporting cross-border payments and treasury management. The initiative reflects Wall Street's broader effort to integrate blockchain technology into traditional finance.

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JPMorgan, Citi-backed consortium plans to launch tokenized deposit network in early 2027: WSJ