ChainCatcher news, according to Bloomberg, Citigroup has launched a deposit tokenization service for institutional clients. This product will be based on a private blockchain controlled by the bank, allowing clients to access the service through the bank's existing systems without the need to set up their own digital wallets.

ChainCatcher news, according to Bloomberg citing informed sources, JPMorgan is exploring the early stages of blockchain-based deposit tokenization to accelerate cross-border payments and settlements.Informed sources revealed that JPMorgan has developed most of the underlying infrastructure needed to operate the new payment method, but tokens will not be created unless the project receives approval from U.S. regulators.