The regulatory picture for tokenized deposits in the US has shifted considerably in the past 18 months. - The FDIC withdrew its restrictive guidance and began developing supervisory frameworks for tokenized deposits. - The OCC confirmed that tokenization of bank liabilities is a permissible activity for national banks. - Congress passed the GENIUS Act, which established a federal framework for payment of stablecoins and drew a clear legal boundary between stablecoins and tokenized deposits. - State regulators are fielding inquiries from chartered banks exploring deposit tokenization, mostly through consortium models. - The Conference of State Bank Supervisors has called for unified federal-state guidance on KYC/AML, smart contract enforceability, and liquidity risk management for always-on redemption. All these changes raise the next question for any team evaluating their next move: does your infrastructure platform deliver the cybersecurity, access control, and interoperability that institutional-scale tokenized assets require? That's the layer Cosmos works on. We can give banks the control, resiliency, and connectivity to issue and move tokenized deposits at institutional scale.(Cosmos - The Interchain ⚛️)