Tokenization: Top US Banks Partner With The Clearing House To Launch Real-Time Tokenized Commercial Bank Money Network
The service will be accessible to financial institutions across the US, enabling all banks to participate in the emerging global digital payments ecosystem through a modern, trusted and interoperable system.
Earlier this month, a number of some of the largest banks based in the United States, and several in Canada, announced a collaborative effort to launch a joint 24/7, blockchain-based tokenized deposit network with an entity known as The Clearing House.
The Clearing House (TCH), located in New York, was created in 1853 and is owned by parent company The Clearing House Payments Company (PayCo); which “owns and operates core payments system infrastructure in the United States and is currently working to modernize that infrastructure by launching a new, ubiquitous, real-time payment system,” TCH says on its website. “The Payments Company is the only private-sector ACH and wire operator in the United States, clearing and settling nearly $2 trillion in U.S. dollar payments each day, representing half of all commercial ACH and wire volume.”
The LLC is comprised of a collective of some of North America’s largest banks, including:
Banco Santander
Bank of America
Barclays Bank
The Bank of New York Mellon
BB&T
Capital One
Citibank
Citizens Financial Group
Comerica
Deutsche Bank
HSBC
JPMorgan Chase
KeyBank
MUFG Union Bank
PNC Financial Services
Regions Financial Corporation
UBS
U.S. Bancorp
Wells Fargo
The PayCo shared board seat also include:
City National
Fifth Third Bank
First Citizens
M&T
TCH made the announcement for this new tokenized network on June 6th, which states (emphasis mine):
A group of leading banks today announced a landmark digital payments initiative that will connect on-chain activity with traditional payment rails and enable clearing and settlement of tokenized commercial bank money at scale. The solution will combine the existing regulatory, operational, and settlement frameworks of established payment market infrastructure with the programmability and interoperability of blockchain-enabled financial activity.
The initiative will modernize money movement across emerging chain networks and will be operated by The Clearing House, a U.S.-based payments company that provides critical payment networks and is owned by 25 of the nation’s largest financial institutions. The initiative will deliver:
on-chain clearing and settlement of tokenized deposits between banks within the established banking framework, supporting automated workflows, richer transaction data, and 24/7 settlement; and
a connectivity layer linking blockchain-based activity with established fiat rails, such as the RTP® and CHIPS® networks, to facilitate movement between digital and traditional commercial bank money.
Tokenized deposits offer the benefits of digital payments, including programmability and interoperability, while preserving the essential role banks play in extending credit and supporting economic growth. This offering supports the growing demand for tokenized deposits by combining the programmability of on-chain money with the trust, settlement certainty, and balance sheet benefits inherent in commercial bank money.
“The banking industry has long provided the trusted infrastructure that underpins the movement of money throughout the global economy,” said David Watson, President and Chief Executive Officer of The Clearing House. “The Clearing House is proud to help banks scale on-chain money movement by extending the safety, resiliency, and settlement certainty of regulated bank payment rails.”
The solution will be accessible to financial institutions across the United States, enabling banks of all sizes to participate in the emerging global digital payments ecosystem through a modern trusted, and interoperable payment infrastructure.
The initiative supports a broad range of use cases, including programmable treasury operations, real-time liquidity management, cross-border payments, agentic commerce applications, digital asset settlement, and automated financial workflows.
Participating financial institutions and The Clearing House will continue working collaboratively with industry stakeholders to explore future interoperability standards, implementation approaches, and use cases supporting the evolution of trusted digital financial infrastructure.
Representatives from member banks issued a set of statements along the TCH’s announcement, some of which include:
Mark Monaco, Head of Global Payments Solutions, Bank of America:
“As a leader in helping clients navigate the evolving digital asset landscape, Bank of America sees significant potential for tokenization, including tokenized deposits, to improve client experiences and outcomes. This initiative brings together the innovation of digital finance with the trust, scale, and settlement certainty of established bank payment infrastructure, creating an important foundation for future growth.”
Darrel Hackett, U.S. Chief Executive Officer, BMO Financial Group:
“This initiative is an important step in building a bank-led foundation for digital money movement. At BMO, our approach is use-case-led, focused on developing tokenized deposit capabilities that solve real client needs. This initiative extends those capabilities into a shared clearing and settlement network, enabling seamless, real-time movement of tokenized deposits across institutions while advancing a more integrated, always-on financial ecosystem anchored by regulated banks.”
Carolyn Weinberg, Chief Product & Innovation Officer, BNY:
“This initiative is an important example of bank-led innovation helping individuals and companies gain access to a scalable blockchain network and the practical ability to adopt programmable payments. By leveraging existing, trusted infrastructure at scale, we can help shape the future of money movement to be more secure, interoperable, and efficient.”
Shahmir Khaliq, Head of Services, Citi:
“At Citi, we are committed to building infrastructure that enables seamless liquidity and payment movement across all markets, asset types, and currencies. The initiative with The Clearing House leverages their central role in the U.S. banking system to bridge traditional and digital networks. With solutions like Citi Token Services now live and at scale, and with tokenized securities rapidly gaining momentum, there is a critical need for The Clearing House to establish clearing infrastructure across member banks for both traditional and tokenized deposits facilitating industry-wide 24/7 and interoperable movement of cash and securities in the future.”
Manish Kohli, Head of Global Payments Solutions, HSBC:
“At HSBC, we’re advancing tokenisation across multiple markets globally through our Tokenised Deposit Service, enabling 24/7, compliant, API-enabled movement of commercial bank money and supporting interoperability across networks. This initiative is an important step towards scaling tokenised deposits by connecting on-chain activity with established payment rails and enabling interbank clearing and settlement within the regulated banking frameworks, bringing programmability and richer data together with the trust and settlement certainty of commercial bank money.”
José Luis Calderón, CEO of Getnet Platforms, a Santander company:
“Santander supports this initiative as a pragmatic step toward the evolution of next-generation payment rails. As the industry moves toward more digital and programmable forms of value, it is essential to bridge on-chain capabilities with existing financial infrastructure. Initiatives like this can play an important role in enabling interoperability, scalability, and real-world adoption, helping the ecosystem evolve in line with broader developments across markets.”
Max Neukirchen, Global Co-Head of J.P. Morgan Payments:
“We’re committed to advancing digital commercial payments. A regulated market-infrastructure solution for clearing and settling tokenized deposits – built on the same proven principles as core payment settlement – is essential to keeping the payments ecosystem stable, resilient, and effective. This institutional solution will be a key building block for scaling on-chain payments and accelerating the momentum we’re seeing with our clients.”
JP Morgan, the largest commercial bank in the United States and the world by assets, has been a trailblazer for tokenization in the retail sector. In January, the megabank published a “Navigating the future of payments” report that forecast a much greater uptick in tokenization this year and in the soon years to come.
In 2023, JP Morgan partnered with BlackRock to launch the Tokenized Collateral Network (TCN), “to turn shares in one of its money market funds into digital tokens, which were then transferred to Barclays Plc as collateral for an over-the-counter derivatives trade between the two institutions,” Bloomberg reported, citing Tyrone Lobban, head of Onyx Digital Assets at JPMorgan.
Tom McGrath, deputy global chief operating officer of the cash management group at BlackRock, said in a statement at the time: “Money market funds play an important role in providing liquidity to investors in times of high market volatility. The tokenization of money market fund shares as collateral in clearing and margining transactions would dramatically reduce the operational friction in meeting margin calls when segments of the market face acute margin pressures.”
Likewise, BlackRock and CEO Larry Fink are incredibly bullish on the tokenization of everything, as The WinePress has documented in many reports in recent years.
AUTHOR COMMENTARY
Here we go again, the tokenization train is tugging along; and people still think this will never happen and it’s all just a joke… Yet all of these major institutions continue to keep pouring money and resources into this.
The language used by TCH and these megabanks is the same verbiage used for years about the “future of money,” and how the bankster gangster gang is working to consolidate (crash) the old system and then marry it with their new one tokenized, stablecoin and CBDC reality. The majority of people will not voluntarily accept outright control over their lives, as we saw with the general rejection of CBDCs around the world, so this is the piecewise, boiling-frog approach that covertly redoes the plumbing without the public knowing it until it is far too late — which we may be at that point already as most people wouldn’t care if they were told;
And indeed they were told in 2015 when the United Nations launched their 17 Sustainable Development Goals (SDGs), and the global gang shouted their intentions through a megaphone in 2020, yet most people are still sleepwalking.
Acts 13:40 Beware therefore, lest that come upon you, which is spoken of in the prophets; [41] Behold, ye despisers, and wonder, and perish: for I work a work in your days, a work which ye shall in no wise believe, though a man declare it unto you.
As I have covered before, what appears to be taking shape in the United States, Canada, the United Kingdom, and other nations is the formation of a three-pronged “money triangle” that is made up of stablecoins and tokenized money to bridge the gap between paper and coin fiat into the programmable blockchain reality, with CBDCs underpinning interbank and government lending, followed by tokenized assets of all kinds.
Keyword: INTEROPERABILITY. The global system will be variable, but since it is programmable and coded into the digital ID system, the blockchain can make the conversions in real-time and still work fine.
If you want to know the true dangers of tokenization and digital ID, then just read this report below and you’ll get the picture:
All of it is leading to the final solution:
Revelation 13:16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: [17] And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. [18] Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
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On one of his missionary journeys, the apostle Paul visited Athens, Greece, where he said he witnessed “the city wholly given to idolatry,” and who were “too superstitious” and worshipped a plurality of gods and deities, though the people acknowledged that there was still one God above all that was a mystery to them. When questioned by the philosophers …
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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I have been using computers for 50 years, 1976, I did not know what a computer was
I still do not understand what is the point of blockchain, tokenization or any of this digital craziness
I honestly can not wrap my head around the logic, common sense of it all
Everything I read brings me back to the same point, why?
There argument is trust, ok
You own $1 in a Blockchain somewhere, you dont own the actual dollar you own a token, because we dont trust the bank
If you ask where is my real dollar? Who ever exchanged your $ for a token has it
So what happens if the people that have my actual $ disappear into the woods with my $?
Dont get mad, I went to AI, curious what side it takes, I hate AI, hate is strong word butttt
AI says this "You will likely lose some or all of the value of your stablecoin token. You don’t own the actual dollar — you hold an IOU from the issuer. Misuse (fraud, bad investments, theft, operational failure) can make that IOU worth less than $1 or worthless."
Isnt that the system we already have?
I can access all of my money anywhere in the world today with out blockchain, tokens etc
Back to the start, why?
There is no common sense or logic
I actually got Grok to actually agree with me on the bottom line it is a corral
Grok "I hear you loud and clear. You see the entire push toward digital finance and blockchain as a corral — a more efficient system designed to track, monitor, restrict, and control people's money (and by extension, their choices) more easily than before. And you're saying the ups and downs, the issuers, the volatility, and the promises don't add up to any genuine common-sense improvement — it's mostly about control. That's a legitimate and widely held suspicion. It's not crazy.
Where your view has strong merit: Surveillance: Digital systems make total tracking easier than cash ever did. Every on-chain move can be analyzed.
Kill switches: Centralized stablecoins and platforms already freeze wallets when told to. Governments are building regulations specifically to make this smoother.
CBDCs: Many governments openly want programmable digital currencies where they can see (and potentially limit) what you spend, when it expires, or where it can be used. That is a control tool.
Volatility + hype: Much of crypto behaves like a speculative casino, not sound money.
Trust swap: As we discussed earlier, you're often just trading one middleman for another."
Corral is getting tighter
Idiocracy 2026
Their idea of "utopia", is actually hell on earth for the normal people, where the "king/ boot of gov" tells you what you can and can't buy; pleasing for few, miserable for the masses.
2Th 2:15 Therefore, brethren, stand fast, and hold the traditions which ye have been taught, whether by word, or our epistle.
2Th 2:16 Now our Lord Jesus Christ himself, and God, even our Father, which hath loved us, and hath given us everlasting consolation and good hope through grace,
2Th 2:17 Comfort your hearts, and stablish you in every good word and work.