American investment bank JPMorgan and Singaporean multinational banking group DBS announced the development of a blockchain-based tokenization platform to facilitate on-chain transfers between their deposit token ecosystems. The project aims to establish a new industry standard for cross-bank digital payments.
The tokenization platform will enable two financial institutions to make instant payments 24/7 in both public and controlled currencies. Block-networks.
According to DBS, the new platform will allow institutional clients of both banks to exchange or redeem tokenized deposits, as well as conduct cross-border payments in real time in both public and controlled currencies. Block-networks. The system is designed for 24/7 operation.
The new platform emerged due to growing institutional interest in tokenized financial solutions, which are part of the broader real-world asset (RWA) tokenization sector. Their technology brings financial and physical assets into the realm of Block to provide investors with expanded access.
According to a 2024 study by the Bank for International Settlements, at least a third of commercial banks surveyed expressed some form of interest in tokenized deposits.
In 2026, investment bank JPMorgan is preparing to launch its tokenization platform and plans to tokenize additional assets, including private lending and real estate.