JPMorgan Chase, BofA, Citi and Wells Fargo to Launch Shared Tokenized Deposits Network in H1 2027

According to ChainCatcher, JPMorgan Chase, Bank of America, Citigroup and Wells Fargo are collaborating to build a shared tokenized deposits network to be operated by The Clearing House, targeting launch in the first half of 2027. The network will convert commercial deposits into tokens transferable around the clock among member banks, with initial users targeting multinational corporations. The platform will offer programmable treasury, real-time liquidity management and cross-border payments.

JPMorgan's Kinexys platform currently processes more than $7 billion daily and has handled over $4 trillion since launch; Citi Token Services operates in the U.S., UK, Singapore and Hong Kong, moving billions of dollars through Citigroup's network.