According to PYMNTS, major U.S. banks are advancing a tokenized deposit network through The Clearing House, with participants including JPMorgan Chase, Bank of America, Citi, Wells Fargo, and others, aiming to go live in the first half of 2027. The article points out that tokenized deposits are different from stablecoins, still considered bank liabilities and kept on the bank's balance sheet, and can be used for programmable money management, liquidity allocation, and cross-border payments; in the future, the competitive focus may shift from "whether banks embrace stablecoins" to "how banks transform deposits to accommodate 24/7 settlement."