BitGo and ZKsync are working together to offer banks a complete infrastructure for tokenized deposits, as financial institutions traditionally look to bring money onto blockchain rails without stepping outside legal boundaries.
The effort combines BitGo’s institutional custody and wallet services with ZKsync’s Prividium, a permissioned, privacy-preserving blockchain designed for regulated entities. The joint offering aims to enable banks to issue, transfer and settle tokenized deposits while maintaining compliance and control.
The move reflects a growing trend among crypto infrastructure companies to take banks to court by packaging blockchain capabilities into compliance-friendly systems, bypassing the need for institutions to build and manage complex on-chain architecture themselves.
Tokenized deposits have emerged as a new trend for banks experimenting with blockchain-based payments. Unlike stablecoins, which typically sit outside the traditional banking system, tokenized deposits keep funds within the system, enabling programmable transactions without changing existing regulatory frameworks.
ZKsync maker Matter Labs is positioning its Prividium network as a bridge between public blockchain innovation and institutional requirements such as privacy and consent. Matter Labs CEO Alex Gluchowski said in a press release that tokenized deposits represent “how banks bring money into the chain without leaving the regulatory system.”
The companies said the combined stack is already being tested at regulated financial institutions, with a broader production rollout set for later this year.
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