JPMorgan, Citi and other banks to launch tokenized deposit system to rival crypto in 2027

Major U.S. banks including JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo have set up a partnership aimed at building a joint tokenized deposit network through the Clearing House, and are targeting a 2027 launch in a move to counter stablecoin and crypto taking over payments and corporate finance. This comes in the wake...