05:56 AM EDT, 06/05/2026 (MT Newswires) -- JPMorgan Chase ( JPM ) , Bank of America ( BAC ) , Citigroup ( C/PN ) (C) and Wells Fargo (WFC) plan to launch a tokenized deposit network in H2 2027 to connect traditional banking systems with blockchain technology, The Wall Street Journal reported Friday.

Operated by The Clearing House, the network will enable instant, 24/7 settlement of tokenized deposits and support services such as real-time liquidity management, programmable treasury operations and cross-border payments, WSJ said.

The initiative comes as banks face growing competition from stablecoins and crypto firms, according to the report.

JPMorgan ( JPM ), Bank of America ( BAC ), Citigroup ( C/PN ) and Wells Fargo ( WFC ) did not immediately respond to MT Newswires' request for comment.

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