Tokenized Deposits for Banks: A Primer

Inside the Report

This primer examines two core decisions for banks developing tokenized deposits: which ledger serves as the source of truth for client balances, and how payments settle with other banks. It traces the accounting flows and compares the trade-offs across credit risk, liquidity, operational complexity, and network reach.

• Understand tokenized deposits, deposit tokens, and tokenized central bank reserves
• Follow payments through operating accounts, omnibus accounts, and on-chain deposit accounts
• Compare bilateral settlement, shared clearing infrastructure, and settlement in central bank money
• Assess the commercial, legal, liquidity, and reconciliation requirements for launch