(((RWA.io))) Report: Global Banks Explore Tokenized Deposits, European Banks Launch Pilot and Implementation Projects

According to a report by Jinse Finance on March 23, the real-world asset data platform (((RWA.io))) has released its latest report showing that multiple banks are exploring tokenized deposits and testing solutions to migrate commercial bank funds to blockchain-based payment and settlement infrastructures. This report, authored by (((RWA.io))) with contributions from industry organizations such as UK Finance, Citigroup, BNY Mellon, JPMorgan's Kinexys, Standard Chartered, ABN AMRO, and Digital Asset, highlights that tokenized deposits, along with stablecoins and central bank digital currencies (CBDCs), are forming a broader on-chain cash system. The report mentions that an increasing number of banks in Europe are launching related pilot and implementation projects. In January this year, Lloyds Banking Group and Archax announced the completion of the UK's first public blockchain transaction based on tokenized deposits on the Canton Network. Meanwhile, the "UK Premium Tokenized Deposit Pilot" project initiated by UK Finance aims to test scenarios such as peer-to-peer market payments, mortgage refinancing, and digital asset settlement by mid-2026. This comprehensive push by banks reflects their efforts to maintain their core position in payments, fund management, and deposit-taking businesses amid the growing proliferation of digital cash tools.