π΅ U.K. challenger bank to bring tokenized deposits to retail users JPMorgan and Citi have moved billions in tokenized deposits on blockchain rails β but exclusively between their own institutional branches. Neither has extended the technology to everyday consumers. A U.K. challenger bank is preparing to change that, offering tokenized deposits directly to retail customers β a first among major banks in this space. Tokenized deposits represent bank-held funds recorded on a blockchain ledger, combining the stability of traditional deposits with programmable, near-instant settlement. So far, the technology has remained firmly in the institutional lane, used for interbank transfers and wholesale settlement rather than consumer accounts. The challenger bank's move would mark the first time retail users gain direct access to tokenized deposit infrastructure previously reserved for large financial institutions. Source
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π΅ U.K. challenger bank to bring tokenized deposits to retail users
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