The largest banks, including JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup, are reportedly working on a tokenized deposit network while the Clarity Act moves through the Senate.
3 reports, 3 independent
Updated Jul 1
Gone quiet
Reached 2 outlets in its first 24 hours
- Reports
- 3
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- Repetition
- 67%
New informationRepeats or wire copies
AI-generated analysis. Brind wrote this summary from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
The largest banks, including JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup, are reportedly working on a tokenized deposit network while the Clarity Act moves through the Senate.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Citigroup and Wells Fargo are testing tokenized digital assets on a blockchain ledger.Sub-event
Largest banks exploring tokenized deposit networks amid Clarity Act movement.1 source
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The entities involved
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JPMorgan Chase
American multinational banking and financial services holding company
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Citigroup
American investment bank and financial services corporation
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Wells Fargo
American multinational banking and financial services company
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Bank of America
American multinational banking and financial services corporation
Related events
- As of August 27, 2025, JPMorgan Chase was reported to be the largest bank in the United States.
- Banks including Wells Fargo, Bank of America, and Citibank are noted to operate in major metropolitan areas such as New York City.
- Major banks are beginning to integrate tokenized assets into their financial services.
- Fintech companies like Affirm and SoFi are competing directly with traditional banks in the U.S. financial services sector.
- Major banks, including Citi, HSBC, and Standard Chartered, began using SWIFT's digital ledger for cross-border payments.