ZKsync Powers Tokenized Deposits in Major U.S. Bank Network
Key Takeaways:Banks Build Tokenized Deposit Network on ZKsyncNot Stablecoins: A Different Model for Digital MoneyHow the System WorksPrividium Enables Private, Compliant InfrastructureBanks Move to Stay Competitive Onchain
The push is part of the development of financial infrastructure that will eventually include programmable systems. Banks that are part of the Cari Network are seeking to modernize the system without ceding control of deposits. This is because the deposits will remain part of the traditional system and thus avoid the problem of disintermediation that is common with other crypto-based systems. Read More: BlockFills Files Chapter 11 in Delaware After Halting Client Withdrawals The network has been designed to integrate with the existing banking system and its associated risks. This has been welcomed by industry bodies such as the Mid-Size Bank Coalition of America. They have endorsed the system as a way of safeguarding the traditional banking business model and its associated capabilities. The Cari Network is now preparing for its wider rollout. Banks that are part of the network are expected to test the full lifecycle of deposits before they are rolled out.About Author
