US Banks Plan Blockchain Network to Tokenize Deposits by 2027

Leading U.S. banks, including JPMorgan Chase, Bank of America and Citigroup, have announced a joint project to build a blockchain platform that will tokenise traditional bank deposits. The network, targeted for launch in the first half of 2027, is intended to counter the growing use of stablecoins such as USDC and USDT and to prevent a projected 3‑5 % outflow of deposits over the next five years.

At the same time, cryptocurrency markets showed mixed movement: Bitcoin edged up 0.02 % to about $61,698 and Ethereum rose 0.03 % to $1,640, while Litecoin, Bitcoin Cash and Ripple fell between 0.9 % and 1.7 %. The price swings illustrate continued volatility in the broader crypto sector.