Traditional banks can finally go on the blockchain without having to dismantle their infrastructure. Anchorage's parallel layer design is quite clever.

CryptoWorld News reports that, according to CoinDesk, the U.S. Federal Chartered Crypto Bank Anchorage Digital has launched a new platform to assist banks in issuing and managing tokenized deposits. The platform uses blockchain technology to serve banks without replacing existing core systems. The platform operates as a parallel layer, with Anchorage responsible for blockchain infrastructure, wallet management, and smart contract technology, while banks handle customer relationships and deposit custody. Major banks such as JPMorgan Chase, Citibank, and Bank of America plan to jointly establish a tokenized deposit network in the first half of 2027.