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Murugaverl Mahasenan

Five US Regional Banks Launch Insured Tokenized Deposits via Cari Network on ZKsync

Five US regional banks, including Huntington Bancshares and KeyCorp, launched the Cari Network to support near-instant settlement for tokenized bank deposits while keeping federal insurance protections. Built on Matter Labs' technology using ZKsync, the system positions bank-issued deposit tokens as a regulated alternative to stablecoins. The initial rollout is expected to focus on institutional payments and corporate treasury use, with broader interoperability planned in phases.
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