JPMorgan, Citigroup and Other Major Banks Plan to Launch Tokenized Deposit Network Next Year

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According to Wall Street Journal, major U.S. banks including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo plan to launch a tokenized deposit network next year to counter threats from stablecoins and crypto firms. The network will connect traditional payment systems with digital asset infrastructure and be operated by Clearing House, a real-time payments company owned by participating banks.
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