Deposits

A bank deposit is money you keep at a bank, and the bank records your balance in its own system. Moving a large sum between companies, especially across borders, goes through payment systems that close at night and on weekends and can take hours or days. Big companies often keep extra cash sitting in many accounts and countries just to cover that delay.

A tokenized deposit is the same deposit, recorded as a token on a blockchain. It’s still the bank’s promise to pay you, backed like any other deposit. That makes it different from a stablecoin, which is issued by a company that holds reserves rather than by a bank. Tokenized deposits can move between a bank’s clients in seconds, 24 hours a day, and they can be programmed, for example to pay a supplier automatically when goods arrive. For companies, that means managing cash in real time. For banks, it keeps deposits useful in a world that runs on blockchains.

Large banks already offer this. JPMorgan’s blockchain business, Kinexys (formerly called Onyx), processed an average of more than $2 billion a day in 2024, and in November 2025 it made its dollar deposit token, JPMD, available to institutional clients on Base, a public blockchain. In May 2025, HSBC launched its Tokenised Deposit Service in Hong Kong for round-the-clock payments between corporate accounts. Its first client, Ant International, used it to move money instantly between its own companies.