Cari Network Aims to Tokenize $10 Trillion in US Bank Deposits via Blockchain

The Cari Network is revolutionizing financial transactions by uniting over 30 US banks to tokenize deposits using blockchain technology.

The network has gained significant traction with a combined asset total exceeding $10 trillion, and around 40 other institutions are in talks to participate. A select group of six partner banks, including Huntington, First Horizon, and M&T Bank, is integrating the network's services using Fireblocks infrastructure.

The objective is to facilitate real-time transfers of FDIC-eligible funds via a permissioned blockchain, with a pilot expected to launch in the summer of 2026 and full-scale operations by the end of that year. The Cari Network provides a framework for chartered US banks to create digital tokens representing customer deposits, known as Cari tokens.

These tokens remain on the bank's balance sheet and are eligible for FDIC insurance, differentiating them from stablecoins issued by companies like Circle or Tether. The technology driving the network combines Fireblocks with ZKsync Prividium, a Layer-2 blockchain, to facilitate transfers using zero-knowledge proof technology.

The founding of the network started in late 2025, leading to the introduction of a minimum viable product and a testing environment in March 2026. A noteworthy partnership was announced with the American Bankers Association in July 2026, strengthening the network's credibility and potential impact.