JPMorgan, Citi, and other major banks back a 2027 initiative to enable 24/7 programmable settlement via tokenized deposits.
JPMorgan, Citi, and other banks through The Clearing House will introduce a tokenized deposit network by 2027, aiming to support 24/7 programmable settlement. The move responds to growing demand for real-time, global value transfer across traditional and digital asset ecosystems.
Banks have previously tested tokenization in limited settings, but public blockchains have already demonstrated large-scale settlement capabilities. The initiative follows recent regulatory approvals, including Nasdaq’s pilot for tokenized securities and the NYSE’s partnership with Securitize for blockchain-based trading infrastructure.
The plan reflects Wall Street’s push to integrate on-chain solutions amid regulatory clarity, with similar efforts underway in Asia and the U.S. for instant settlement and stablecoin-based funding.