[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"article-four-banks-building-2027-stablecoin-rival-en":3,"article-related-four-banks-building-2027-stablecoin-rival-en":32,"series-blockchain-bfd1f12e-cee4-4892-b0ad-8a20195e3b64":76},{"id":4,"slug":5,"title":6,"content":7,"summary":8,"source":9,"source_url":10,"author":11,"image_url":12,"cover_image":12,"category":13,"language":14,"translated_content":11,"related_article_id":15,"keywords":16,"key_takeaways":25,"views":29,"created_at":30,"published_at":31,"topic_cluster_id":11},"bfd1f12e-cee4-4892-b0ad-8a20195e3b64","four-banks-building-2027-stablecoin-rival-en","Four banks are building a 2027 stablecoin rival","\u003Cp>Will JPMorgan and other big banks launch a shared tokenized deposit network that can compete with \u003Ca href=\"\u002Ftag\u002Fstablecoins\">stablecoins\u003C\u002Fa>?\u003C\u002Fp>\u003Cp data-speakable=\"summary\">Four US banks are building a shared tokenized deposit network aimed at stablecoin-like payments.\u003C\u002Fp>\u003Ch2>1. The Clearing House network\u003C\u002Fh2>\u003Cp>The core project is a shared tokenized deposit network run by \u003Ca href=\"https:\u002F\u002Fwww.theclearinghouse.org\u002F\">The Clearing House\u003C\u002Fa>, the payments company owned by major commercial banks. The goal is to let banks clear and settle tokenized deposits all day, every day, while keeping the money inside the regulated banking system.\u003C\u002Fp>\n\u003Cfigure class=\"my-6\">\u003Cimg src=\"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1785589363330-fb48.png\" alt=\"Four banks are building a 2027 stablecoin rival\" class=\"rounded-xl w-full\" loading=\"lazy\" \u002F>\u003C\u002Ffigure>\n\u003Cp>That design matters because tokenized deposits are claims on cash already held at a bank, not a separate crypto asset. In practice, the network is meant to connect blockchain-style payment flows to existing bank rails instead of replacing them.\u003C\u002Fp>\u003Cul>\u003Cli>Planned launch window: first half of 2027\u003C\u002Fli>\u003Cli>Initial users: multinational companies\u003C\u002Fli>\u003Cli>Primary value: 24\u002F7 settlement with bank-grade custody\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>2. JPMorgan Kinexys\u003C\u002Fh2>\u003Cp>\u003Ca href=\"https:\u002F\u002Fwww.jpmorganchase.com\u002F\">JPMorgan\u003C\u002Fa> already has one of the most visible bank blockchain businesses through Kinexys, which processes more than $7 billion in average daily volume. The platform has also handled over $40 trillion since launch, giving the bank a live base to compare against the new shared network.\u003C\u002Fp>\u003Cp>Kinexys is important here because it shows the limits of a closed bank network. JPMorgan can move value efficiently inside its own system, but the new project is meant to let tokenized money travel between different banks, not just within one institution.\u003C\u002Fp>\u003Cul>\u003Cli>Average daily volume: more than $7 billion\u003C\u002Fli>\u003Cli>Total handled since launch: over $40 trillion\u003C\u002Fli>\u003Cli>Current scope: JPMorgan’s own blockchain payment rails\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>3. Citi Token Services\u003C\u002Fh2>\u003Cp>\u003Ca href=\"https:\u002F\u002Fwww.citigroup.com\u002F\">Citigroup\u003C\u002Fa> also operates a blockchain payment service, Citi \u003Ca href=\"\u002Ftag\u002Ftoken\">Token\u003C\u002Fa> Services, across the United States, United Kingdom, Singapore and Hong Kong. The service has already moved billions of dollars through Citi’s network, so the bank is not starting from zero.\u003C\u002Fp>\n\u003Cfigure class=\"my-6\">\u003Cimg src=\"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1785589361866-vsfb.png\" alt=\"Four banks are building a 2027 stablecoin rival\" class=\"rounded-xl w-full\" loading=\"lazy\" \u002F>\u003C\u002Ffigure>\n\u003Cp>The shared deposit network could matter because Citi’s current setup is still bank-specific. A common system would let tokenized deposits move across institutions, which is a bigger test than proving the technology works inside one bank’s perimeter.\u003C\u002Fp>\u003Cul>\u003Cli>Active markets: US, UK, Singapore, Hong Kong\u003C\u002Fli>\u003Cli>Value moved: billions of dollars\u003C\u002Fli>\u003Cli>Strategic gap: interoperability with other banks\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>4. Stablecoins as the benchmark\u003C\u002Fh2>\u003Cp>Stablecoins are the direct \u003Ca href=\"\u002Ftag\u002Fbenchmark\">benchmark\u003C\u002Fa> for this project because they already offer 24-hour transfers, programmable settlement and broad blockchain access. About $263 billion in stablecoins are in circulation, which means crypto-native payment providers already have a large market to defend.\u003C\u002Fp>\u003Cp>Deposit tokens try to match those payment features without moving funds outside the banking sector. That is the pitch to corporate treasurers: the speed of on-chain money, but with deposits that remain on bank balance sheets and under the same legal treatment as ordinary deposits.\u003C\u002Fp>\u003Cul>\u003Cli>Stablecoin supply in circulation: about $263 billion\u003C\u002Fli>\u003Cli>Key features banks want to match: speed, programmability, access\u003C\u002Fli>\u003Cli>Core difference: funds stay inside regulated banks\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>5. The CLARITY Act fight\u003C\u002Fh2>\u003Cp>The policy fight around the \u003Ca href=\"https:\u002F\u002Fwww.congress.gov\u002F\">CLARITY Act\u003C\u002Fa> raises the stakes. Banking groups want tighter rules on stablecoin rewards, arguing that crypto platforms could use incentives that act like interest and pull deposits away from banks.\u003C\u002Fp>\u003Cp>That debate helps explain why the banks are pushing their own tokenized deposit network now. If stablecoins keep growing while lawmakers leave reward rules loose, banks may need a bank-led alternative that offers similar payment utility without pushing customer funds into crypto platforms.\u003C\u002Fp>\u003Cul>\u003Cli>Banking groups backing tighter stablecoin rules: ABA, ICBA, 76 state associations\u003C\u002Fli>\u003Cli>Main concern: incentives that mimic deposit interest\u003C\u002Fli>\u003Cli>Political risk: the bill could shift the competitive balance\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>How to decide\u003C\u002Fh2>\u003Cp>If you care about corporate payments and treasury workflows, the shared deposit network is the most important item to watch because it targets real business use cases first. If you want scale today, stablecoins still have the bigger footprint and broader blockchain reach.\u003C\u002Fp>\u003Cp>For bank executives and payment teams, the key question is interoperability: can a bank-issued token move across institutions without losing the speed that makes stablecoins attractive? The answer will shape whether 2027 becomes a turning point or just another pilot cycle.\u003C\u002Fp>","4 US banks are planning shared deposit tokens for 2027, aiming to match stablecoin speed inside regulated banking.","crypto.news","https:\u002F\u002Fcrypto.news\u002Fjpmorgan-us-banks-stablecoins-shared-deposit-tokens\u002F",null,"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1785589363330-fb48.png","blockchain","en","0677980a-c22e-451c-b638-fe4ec811a88f",[17,18,19,20,21,22,23,24],"JPMorgan","tokenized deposits","stablecoins","The Clearing House","Citigroup","Kinexys","Citi Token Services","CLARITY Act",[26,27,28],"Four major US banks are building a shared tokenized deposit network for 2027.","The project aims to match stablecoin speed while keeping funds inside regulated banks.","Policy fights over stablecoin rewards are increasing pressure on banks to offer an alternative.",0,"2026-08-01T13:02:21.304178+00:00","2026-08-01T13:02:21.296+00:00",{"tags":33,"relatedLang":35,"relatedPosts":39},[34],{"name":19,"slug":19},{"id":15,"slug":36,"title":37,"language":38},"4-banks-building-2027-stablecoin-rival-zh","4 家銀行押注 2027 存款代幣競爭","zh",[40,46,52,58,64,70],{"id":41,"slug":42,"title":43,"cover_image":44,"image_url":44,"created_at":45,"category":13},"19acc7df-cb5d-4119-afe3-869cdaa2065d","stablecoin-rules-digital-dollars-work-en","Stablecoin rules now define how digital dollars work","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1785587564594-kiwn.png","2026-08-01T12:32:23.132749+00:00",{"id":47,"slug":48,"title":49,"cover_image":50,"image_url":50,"created_at":51,"category":13},"b208ecac-b0bd-4818-991b-ab0faab1bccd","solana-institutional-push-gets-louder-en","Solana’s institutional push is getting louder","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1785418385644-szlg.png","2026-07-30T13:32:39.933327+00:00",{"id":53,"slug":54,"title":55,"cover_image":56,"image_url":56,"created_at":57,"category":13},"731ffc61-de27-41a3-9e15-2ad132aaa366","layer-2-is-ethereums-real-product-not-detour-en","Layer 2 Is Ethereum’s Real Product, Not a Detour","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1785141164671-0pr0.png","2026-07-27T08:32:20.292035+00:00",{"id":59,"slug":60,"title":61,"cover_image":62,"image_url":62,"created_at":63,"category":13},"14c02898-e27e-4837-9037-9883c9e7f891","ethereum-price-network-demand-not-speculation-en","Ethereum’s price should be read as network demand, not just speculati…","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1785115968090-irtt.png","2026-07-27T01:32:20.330926+00:00",{"id":65,"slug":66,"title":67,"cover_image":68,"image_url":68,"created_at":69,"category":13},"45b2824d-452d-467b-9442-37252c8be96e","ethereum-shakeup-turns-eth-into-cleaner-bet-en","Ethereum’s shake-up turns ETH into a cleaner bet","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1785114192583-bq2i.png","2026-07-27T01:02:47.439324+00:00",{"id":71,"slug":72,"title":73,"cover_image":74,"image_url":74,"created_at":75,"category":13},"7c596069-347f-49d9-a3d8-209d0fb540e2","bitcoin-price-page-market-view-en","Bitcoin’s price page explains the market in one 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