Several US regional banks are planning to establish a tokenized deposit network based on ZKsync
PANews, March 17 — According to CoinDesk, regional banks in the United States are jointly developing a tokenized deposit platform called Cari Network, which operates on the private permissioned chain "Prividium" based on ZKsync. Participating banks include Huntington Bancshares, First Horizon, M&T Bank, KeyCorp, and Old National Bancorp. The network allows banks to tokenize customer deposits, enabling instant interbank settlement within a regulated framework. The tokens are still recorded as bank deposits and are subject to existing regulations and FDIC insurance. The project is scheduled to officially launch in 2026 and is currently testing the issuance, transfer, and redemption processes of deposit tokens. It has received support from the Mid-Size Bank Coalition of America and aims to provide stablecoin-like 24/7 payment capabilities.
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