JPMorgan, BofA, Citi, and Wells Fargo to Launch Shared Tokenized Deposit Network by H1 2027

Four major U.S. banks partner with The Clearing House to launch a shared tokenized deposit network by H1 2027, enabling 24/7 commercial transfers and programmable treasury solutions for multinational corporations.

Woofun AI reports that JPMorgan, Bank of America, Citigroup, and Wells Fargo are collaborating to establish a shared tokenization deposit network operated by The Clearing House. The initiative aims to convert commercial deposits into tokens for round-the-clock transfer between member banks, with a target launch in the first half of 2027. Initial services will focus on multinational corporations, offering programmable treasury solutions, real-time liquidity management, and cross-border payments. David Watson, CEO of The Clearing House, characterized the project as a significant industry move. JPMorgan’s Kinexys platform currently processes over $7 billion daily, exceeding $40 trillion in total volume, while Citi Token Services operates across the U.S., UK, Singapore, and Hong Kong.