Tokenized deposits, sometimes known as deposit tokens, are blockchain representations of fiat currency bank deposits. They are issued by banks, backed by fiat deposits at those banks, and can run on either private or public blockchains (although, since these are heavily regulated entities, theyโll want complete control of access). In some cases, such as with JPMorganโs JPM Coin, they are used to settle transactions between JPMorgan clients. In others, such as SocGenโs EURCV, they can be transferred to clients who do not have accounts at the issuer bank, but only after being whitelisted.
Stablecoins vs Tokenized Deposits: Why the Differences Matter
