[Wall Street Banks Collaborate to Launch Tokenized Deposit Network to Counter Stablecoin Expansion] According to Bloomberg, several major U.S. banks, including JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and HSBC, have announced the formation of a joint network operated by The Clearing House. This network will use blockchain technology to connect tokenized bank deposits in response to the rapid expansion of dollar-pegged stablecoins like USDT and USDC in the payments and settlement sectors. The network is scheduled to go live next year, aiming to achieve interoperability among the blockchain systems of participating banks, with a focus on wholesale payment and liquidity management scenarios. Data from Artemis Analytics indicates that stablecoin transaction volume is projected to reach approximately $33 trillion by 2025, while Bloomberg Intelligence estimates related payment flows could exceed $50 trillion by 2030. The banking industry views this trend as exerting direct competitive pressure on traditional deposit and payment businesses.