JPMorgan and Citi have moved billions of dollars through tokenized deposit systems, but the activity has remained limited to transactions among their own branches, according to CoinDesk. The approach highlights how major Wall Street banks are developing blockchain-based money primarily for institutional use rather than for everyday consumers. CoinDesk also reports that a U.K. challenger bank is preparing to take a step that neither JPMorgan nor Citi has taken so far. The report does not identify that move in the supplied material, but it places the development in the broader expansion of tokenized banking infrastructure. For digital-asset markets, the comparison underscores the gap between large banks’ internal settlement initiatives and consumer-facing applications of tokenized money.
