Tokenized deposits, typically often known as deposit tokens, are blockchain representations of fiat forex financial institution deposits. They’re issued by banks, backed by fiat deposits at these banks, and might run on both personal or public blockchains (though, since these are closely regulated entities, they’ll need full management of entry). In some instances, comparable to with JPMorgan’s JPM Coin, they’re used to settle transactions between JPMorgan shoppers. In others, comparable to SocGen’s EURCV, they are often transferred to shoppers who would not have accounts on the issuer financial institution, however solely after being whitelisted.
