business
JPMorgan, Citi and Bank of America to Launch Shared Blockchain Deposit Network in 2027
Three major U.S. banks are developing a joint blockchain system to add crypto-like features to traditional deposits, with a target launch in mid-2027.
dnaindia.comAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
JPMorgan, Citi and Bank of America are building a shared blockchain network that aims to give bank deposits the speed and programmability of cryptocurrencies. The project is being developed in direct response to the competitive pressure from stablecoins, according to @CoinDesk reported. The banks have set a target launch date of mid-2027 for the network.
JPMorgan is among the institutions participating in the effort. The initiative seeks to combine the settlement advantages of blockchain technology with the regulatory framework and deposit base already held by the three banks.
Transparency
1 source · single source
CorroborationModerate · 1 source
