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Scott Melker: JPMorgan, Citi and major U.S. banks plan tokenized deposit network
Scott Melker, owner and content creator, reports that JPMorgan, Citi, and other major U.S. banks are planning to launch a tokenized deposit network.
The initiative is aimed at countering the competitive threat posed by stablecoins.
In recent coverage, Melker highlighted panic selling in crypto markets after minor Bitcoin sales by Strategy and wallet movements related to Mt. Gox, despite no large offloads occurring at the time. He has also noted that Bitcoin became difficult to stop after its creator disappeared, citing the cryptocurrency’s decentralized structure. These observations come as major banks respond to the rise of stablecoins with new blockchain initiatives.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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