Approximately 40 Domestic Banks to Demonstrate Interbank Transfers Using Tokenized Deposits

Direct Settlements Without the Zengin System

About 40 national banks will participate in a pilot project using 'tokenized deposits' circulating on the blockchain, as reported by Nikkei on the 25th. GMO Aozora Net Bank is spearheading this initiative, in collaboration with DeCurret DCP and ABeam Consulting, with plans to start the demonstration within August.

Resona Bank, Shoko Chukin Bank, and Bank of Yokohama will join as observers. The project aims to facilitate transactions directly between banks 24/7, bypassing the traditional national bank data communication system, thereby enabling lower costs...