Definition
Tokenized deposits are digital representations of commercial bank money issued on a bank’s own ledger, distinct from stablecoins (typically issued by non-bank entities). They enable programmable, 24/7 money movement while preserving bank credit, compliance, and risk controls.
Key Points
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2026-10-22: sofi launches retail SOFIE — interest-bearing FDIC-insured deposit token via SoFi Crypto, 1:1 bridge to sofiusd; positions against idle stablecoin cash post-genius-act interest ban on payment stablecoins (2026-10-22-sofi-earn-official-newsroom)
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2026-09-30: anz completes live USD corporate treasury payment Melbourne–New York with bhp and citi on swift blockchain ledger — first Australian bank; customer-facing process unchanged (2026-10-06-anz-tokenised-deposit-anz-official)
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2026-09-22: Canada’s Big Six (BMO, CIBC, NBC, RBC, Scotiabank, TD) jointly explore CAD tokenized deposits — phase one interbank transfers; OSFI confirms tokenized deposits not legally distinct from conventional deposits; no product commitment yet (2026-09-23-canadian-banks-tokenised-deposits, 2026-09-22-canadian-banks-ledger-insights)
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2026-09-22: cleartoken CSD Gate 2 — tokenised FTSE 350 equities, gilts, corp bonds with 24/7 intraday repo in BoE sandbox (securities layer, not deposit tokens) (2026-09-22-cleartoken-bank-of-england-approval)
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2026-09-10: dbs, ocbc, uob complete first live SGD interbank transactions on swift-cooperative blockchain ledger — production milestone in Singapore (2026-09-14-singapore-banks-swift-ocbc-primary)
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2026-08-04: wells-fargo announces fall launch for corporate clients — limited USD–GBP on proprietary chain; expand 2027 (2026-08-04-wells-fargo-tokenized-deposits-official)
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2026-07: project-agora RVT uses tokenized commercial bank deposits + central bank reserves for wholesale cross-border settlement (~CHF 800k) (2026-07-31-bis-agora-official-rvt)
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swift-cooperative shared ledger (July 2026) provides orchestration layer across bank-issued tokenized deposits
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Final settlement still occurs on existing payment rails — hybrid, not full on-chain replacement
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Banks can move customer funds overnight and on weekends before legacy settlement completes
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Foundation for programmable money and agentic-commerce per Swift