JPMorgan, Citi, BofA and Wells Fargo plan Tokenized Deposit Network launch in H1 2027

JPMorgan, Citi, Bank of America and Wells Fargo are building a shared Tokenized Deposit Network via The Clearing House, with a target launch in the first half of 2027. The banks are promoting tokenized deposits as a way to enable 24/7, programmable settlement while keeping funds inside regulated bank deposits—an approach positioned against institutional stablecoin rails and a retail CBDC push.