TL;DR:
- Anchorage Digital launched a platform that allows banks to issue and manage tokenized deposits on blockchain networks.
- The system operates as a parallel layer to current banking infrastructure, without replacing each institution’s core systems.
- JPMorgan, Citi and Bank of America plan to build their own tokenized deposit network by the first half of 2027.
Anchorage Digital, the federally chartered crypto bank, launched a new infrastructure platform designed to allow traditional financial institutions to issue and manage tokenized deposits on blockchain networks. The platform aims to resolve one of the main bottlenecks in the current financial system: payments and settlements that still depend on banking hours and batch processing.
The product is based on creating a digital representation of customer deposits on the blockchain, while the underlying funds remain within the bank’s traditional accounts. Anchorage provides the blockchain infrastructure, wallet management and smart contract technology, while banks retain the relationship with their clients and custody of the deposits. This eliminates the need to migrate to entirely new systems, a process that can take years and expose institutions to significant operational risks.
Today, Anchorage Digital is giving banks a new solution. With Tokenized Deposits, banks can use blockchain as a parallel ledger, upgrading bank’s capabilities without replacing what already works.
Tokenized Deposits allow banks a few key capabilities:
– Always-On Settlement:… https://t.co/9ZCemS2etY
— Nathan McCauley âš“ (@nathanmccauley) June 22, 2026
Anchorage: Tokenized Deposits as an Alternative to Stablecoins
The launch responds to the debate over which instrument will dominate the movement of money on blockchain infrastructure: stablecoins or tokenized deposits. The former, such as Circle’s USDC and Tether’s USDT, are issued by private companies and backed by U.S. Treasury bonds. Tokenized deposits, on the other hand, are digital representations of deposits at commercial banks that remain within the regulated banking system.
Nathan McCauley, CEO of Anchorage Digital, stated that several of the banks they have begun working with are already evaluating how to implement tokenized deposits in their operations. The platform is conceived as a parallel layer that coexists with existing banking infrastructure, not as a replacement.
The largest banks in the United States, including JPMorgan, Citi and Bank of America, plan to develop a shared tokenized deposit network by the first half of 2027. Meanwhile, BitGo is working alongside ZKsync on an equivalent infrastructure. Anchorage enters that space with the advantage of operating under a federal banking license, which grants it a differentiated regulatory framework compared to other players in the crypto industry.
