Large banks like Morgan Chase have developed a shared-currency deposit network

According to Bloomberg, large banks such as Morgan Chase, the Bank of America, HSBC, Citi and the Bank of Rich Countries are preparing a shared-currency deposit network, to be operated by The Clearing House, a United States banking payment agency, to be launched in 2027. The project aims to connect the chain payment systems of banks and to improve interoperability between tokenized deposits and other digital monetary systems, with an initial focus on institutional bulk payments, enterprise finance and liquidity management, and in the future digital cash for monetized securities settlement。