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U.S. regional banks building tokenized deposit network on ZKsync to rival stablecoins
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Why This Matters
U.S. regional banks are developing a tokenized deposit network on ZKsync, aiming to rival stablecoins with a 2026 rollout, which could impact the demand for traditional stablecoins and influence the broader crypto market. This move may reflect a shift in the banking sector's approach to digital assets. The network, called the Cari Network, involves several major banks, including Huntington Bancshares, First Horizon, and M&T Bank.
Market Impact
The introduction of a tokenized deposit network by U.S. regional banks could potentially decrease the demand for stablecoins, such as USDT and USDC, and may lead to a decrease in their market capitalization. This development could also lead to increased adoption of blockchain technology in the traditional banking sector, potentially benefiting assets like ETH, which underlies the ZKsync platform.
Sentiment
Neutral
AI Confidence
70%
Time Horizon
Medium Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
The Cari Network is targeting a 2026 rollout as banks test issuance, transfers and redemption of digital deposits. Participating banks include Huntington Bancshares, First Horizon, M&T Bank, KeyCorp and Old National Bancorp.
Original article published by
CoinDesk
on March 17, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.