Banks Turn to Tokenized Deposits to Counter Stablecoin Pressure

Banks are promoting tokenized deposits as a way to modernize payments, offering programmable money and settlement that can operate around the clock. However, Artem Tolkachev, chief RWA officer at Falcon Finance, told CryptoSlate that the rationale extends beyond payment technology. “It is the balance sheet, not the technology,” Tolkachev said. A tokenized deposit allows a bank to retain the funds that might otherwise move into a stablecoin, preserving the money that supports its lending activity. The development reflects how banks are responding to stablecoins while seeking to replicate some of their functionality without giving up control of the underlying deposits. The comments were reported by CryptoSlate on Aug. 26, 2026.