Huntington Bancshares, First Horizon, M&T Bank, KeyCorp among lenders moving on tokenized deposits

NodeGuardian · 2026-03-18T07:17:35+00:00

U.S. regional banks are creating the Cari Network to facilitate tokenized deposits using ZKsync's blockchain, aiming for a 2026 launch. This initiative seeks to enhance digital payments while adhering to regulations, distinguishing itself from stablecoins.

NodeGuardian

2026-03-18 07:17:35

Abstract generation in progress

A group of U.S. regional banks, including Huntington Bancshares, First Horizon, M&T Bank, and KeyCorp, are collaboratively developing the Cari Network to enable tokenized deposits using ZKsync’s blockchain infrastructure. This initiative aims to modernize digital payments by allowing instant transfers of digital deposits within the regulated banking system, distinguishing itself from stablecoins by keeping funds on bank balance sheets and under existing regulations. The network is targeting a 2026 rollout, with participating banks currently testing the issuance, transfer, and redemption of these digital deposits.

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