The Clearing House, co-owned by JPMorgan, Bank of America, Citi, Wells Fargo and other major U.S. banks, plans to operate a tokenized deposit network as soon as the first half of 2027. The pitch is regulated bank money on crypto-style rails: instant movement, 24/7 settlement, cross-border payments and corporate treasury ops without pushing balances into stablecoins. Early users are expected to be large global companies, which makes this less a blockchain pilot and more the banks’ shared answer to stablecoin payment pressure.

TLDR by @Benthic