Banks Move Deposits On-Chain as Tokenized Deposits Challenge Stablecoins
- —Banks are issuing tokenized deposits on blockchain rails
- —Tokenized deposits emerge as a rival to stablecoins
- —Wells Fargo launched tokenized deposits for corporate clients
- —BNY rolled out round-the-clock dollar settlement for Singapore Gulf Bank
Why it matters: Tokenized deposits could pull liquidity away from stablecoins and reshape the market for digital settlement.
Source: Google News (crypto query)
More on this
Regulation · Oct 12Bank of England in no rush on digital pound, points to stablecoins and tokenized deposits
DeFi · Oct 8Token Terminal: $303.6B in Stablecoins, $46.7B in Tokenized Assets On-Chain
DeFi · Oct 6Chainlink's Nazarov says banks are building their own tokenized deposit chains