Anchorage Digital Launches Tokenized Deposit Platform for Banks
In brief
- Anchorage Digital launches tokenized deposit infrastructure for banks on blockchain
- Platform operates as parallel layer without requiring migration of existing systems
- Banks retain custody and customer relationships while Anchorage manages blockchain infrastructure
How the platform works
Anchorage Digital's platform creates a blockchain-based representation of customer deposits while keeping the underlying funds within the bank's traditional deposit accounts. The infrastructure sits as a parallel layer alongside existing banking systems rather than requiring institutions to migrate to entirely new technology.
The division of labor is clear: Anchorage provides the blockchain infrastructure, wallet management and smart contract technology, while banks maintain customer relationships and custody of deposits. This separation lets financial institutions move at their own pace without overhauling legacy systems.
"Many of the banks that we're starting to work with are thinking about tokenized deposits, and how do we start to do [them]," said Nathan McCauley, CEO of Anchorage Digital.
Banking's tokenization timeline
The timing aligns with broader industry momentum. America's biggest banks, including JPMorgan, Citi and Bank of America, plan to build a shared, tokenized deposit network by the first half of 2027. This differs fundamentally from stablecoins such as Circle's USDC and Tether's USDT, which are typically issued by private companies and backed by U.S. Treasuries in reserves.
Other infrastructure providers are also moving into this space. BitGo is working with ZKsync to build tokenized deposit infrastructure to bring banks onchain. The convergence of players suggests tokenized deposits may become a standard settlement layer for traditional finance within the next 18 months.
