Anchorage aims to bring banks onchain with new tokenized deposit platform

Federally chartered crypto bank Anchorage Digital has launched a new infrastructure platform designed to enable traditional banks to issue tokenized deposits on blockchain networks. This initiative allows financial institutions to facilitate 24/7 payments and settlement services without the need to replace their existing core banking systems. By creating blockchain-based representations of customer deposits while keeping the underlying funds in traditional accounts, Anchorage aims to bridge the gap between legacy finance and digital assets. This development arrives as major institutions like JPMorgan, Citi, and Bank of America prepare to launch their own shared tokenized deposit network by early 2027. The move highlights a broader industry shift toward tokenized deposits as a regulated alternative to private stablecoins like USDC or USDT. By providing the necessary wallet management and smart contract technology, Anchorage positions itself as a critical infrastructure provider for banks seeking to modernize payment rails. This strategy minimizes operational risks associated with full-scale system migrations, marking a significant step in the institutional adoption of onchain finance.