RWA.io report: Many banks around the world explore tokenized deposits Banks in Europe launch relevant pilot and implementation projects

On March 23, the latest report released by real-world asset data platform RWA.io showed that many banks are exploring tokenized deposits and testing solutions to migrate commercial bank funds to blockchain-based payment and clearing infrastructure. The report, written by RWA.io and contributed by industry institutions such as UKFinance, Citigroup, Bank of New York Mellon, JPMorgan's Kinexys, Standard Chartered Bank, ABN Amro and DigitalAsset, pointed out that tokenized deposits are working together with stablecoins and central bank digital currencies, they form a broader on-chain cash system. The report mentioned that more and more banks in Europe have launched relevant pilot and implementation projects. In January this year, Lloyds Banking Group and Archax announced that they had completed the UK's first public blockchain transaction based on tokenized deposits on Canton Network; while the "UK Quality Tokenized Deposits Pilot" project initiated by the British Financial Association will test scenarios such as market payments, mortgage retransfers and digital asset clearing between individuals before mid-2026. The bank's all-round efforts reflect that banks are trying to maintain their core position in payment, fund management and deposit withdrawal businesses against the backdrop of the increasing number of digital cash instruments.