Global banks such as JPMorgan and Citi are expanding blockchain-based token deposit and payment systems, but related services are still operating primarily for institutional clients and permissioned networks, CoinDesk reported. Currently, JPMorgan's blockchain platform Kinexys has processed over $3 trillion in cumulative transactions, and Citi Token Services also handles billions of dollars in cross-border payments daily. Additionally, UK challenger bank Monument Bank is pursuing a plan to offer tokenized deposits to retail customers. Monument plans to tokenize up to £250 million ($335 million) in retail customer deposits using the privacy-focused blockchain Midnight.
