Anchorage Digital, a U.S. federally regulated crypto bank, has introduced a new platform designed to help banks issue and manage tokenized deposits. The platform enables 24/7 payment and settlement services without requiring banks to overhaul their existing core banking systems. It works by creating on-chain token representations of customer deposits while keeping the underlying funds in traditional bank deposit accounts.
Anchorage Digital provides the blockchain infrastructure, wallet management, and smart contract technology for the platform, while banks retain customer relationships and custody of deposits. CEO Nathan McCauley said that multiple banks currently in partnership with Anchorage are actively evaluating how to implement tokenized deposits. The platform is built as an additional layer that runs parallel to existing bank infrastructure, rather than forcing institutions to migrate to an entirely new system, thereby lowering the adoption barrier for traditional banks.