Anchorage Digital Launches Tokenized Deposit Platform to Rival JPMorgan, Citi, BofA Network

According to CoinDesk, Anchorage Digital, a federally chartered crypto bank, launched tokenized deposit platform infrastructure on June 19 that enables banks to issue blockchain-based representations of customer deposits without replacing core systems. The platform provides blockchain infrastructure, wallet management, and smart contract technology while banks retain customer relationships and deposit custody. Tokenized deposits differ from stablecoins as they are issued as bank deposits within the traditional banking system, whereas stablecoins are typically issued by private companies backed by reserves such as US Treasuries.

The launch comes as JPMorgan, Citi, and Bank of America plan a shared tokenized deposit network for the first half of 2027. Anchorage's move marks a significant push to onboard traditional banks onto blockchain infrastructure.