JPMorgan Chase and the four major banks in the United States plan to launch a shared tokenized deposit network in the first half of 2027

JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are collaborating to build a shared tokenized deposit network, operated by The Clearing House. The plan is to convert commercial deposits into tokens that can be transferred 24/7 between member banks, and launch it in the first half of 2027. The first batch of users of this network are aimed at multinational enterprises, with products including programmable treasury, real-time liquidity management, and cross-border payments. The Clearing House CEO David Watson stated that the project is a significant initiative for the bank. The daily processing scale of JPMorgan's Kinexys platform exceeds $7 billion, with a total processing volume of over $4 trillion since its launch; Citi Token Services has been operating in the United States, United Kingdom, Singapore, and Hong Kong, and has transferred billions of dollars through Citi's own network.