Tldr:
- Mastercard and Visa are creating settlement paths for stablecoins for currency issuers and payment networks.
- Five major US banks are planning to create a deposit token network targeting launch in early 2027.
- DTCC’s tokenization service extends to over 50 companies, with RWA trading starting in July 2026.
- Standard Chartered’s Zodia Custody deal strengthens its institutional digital asset custody offerings.
Wall Street Institutional He embraces The blockchain movement is accelerating, with Citi, Mastercard, Visa, DTCC and several major banks now testing stablecoin, token deposit and settlement infrastructure.
These moves signal a shift away from trading-focused cryptocurrency exposure towards core financial plumbing, reshaping how money and assets move across global markets.
Payments and deposits drive early adoption
Stablecoin settlement It has become a focal point for payment networks. Mastercard said in June that it would add stablecoin settlement options for coin issuers and acquirers, while Visa is testing private stablecoin settlement with Braly on the Canton Network, a privacy-focused blockchain designed for enterprises.
Banks are taking a parallel approach focusing on token deposits. JPMorgan Chase, Citigroup, Bank of America, Wells Fargo and The Clearinghouse plan to create a bank-led deposit token network targeting the first half of 2027, according to a Wall Street Journal report.
Retail banking is also entering the field. SoFi has launched its stablecoin SoFiUSD on its retail banking platform and named Bullish as its first centralized exchange partner. The company’s leadership framed this as removing a long-standing barrier between cryptocurrencies and traditional finance.
As CoinMarketCap noted in its coverage, Wall Street is entering the next phase of institutionalization Adopt encryptionMoving from trading desks and exchange-traded funds to core financial infrastructure. This shift to past payments extends to asset management itself.
The tokenization reaches private markets and fund products
Access to private markets expands through token structures. Citi launched digital depository receipts for private company stocks in June, creating a new way for investors to access… Private marketsamid growing demand for exposure to prominent IPO candidates.
Box products follow a similar path up the chain. BlackRock has filed to expand its tokenized fund portfolio following the launch in 2024 of BUIDL, its first tokenized money market fund.
Separately, Ondo Finance, Kinexys by JP Morgan, Mastercard and Ripple completed a trial to redeem a token US Treasury fund on blockchain rails in May.
Stocks are also moving towards premium formats. Coinbase has outlined plans to offer US token shares to non-US customers, while Kraken’s parent company, Payward, has pushed access to its token IPO through xStocks.
Behind these products, infrastructure providers build the systems that support settlement and custody at scale.
DTCC said in May that it would roll out the tokenization service with more than 50 financial firms, with limited initial production runs of select real-world assets scheduled for July and a wider launch scheduled for October.
The nursery infrastructure is also being strengthened. Standard Chartered It said in May that it would acquire Zodia Custody’s cryptocurrency custody business and integrate it into its own infrastructure, deepening its digital asset capabilities.
Industry observers describe this layer of preservation as an essential foundation. Ripple, Quinlan & Associates wrote in a February report that digital asset custody forms the foundational layer that supports all digital asset use cases for financial institutions.
Together, these developments indicate that blockchain technology is becoming an integral part of daily financial operations, transferring funds, issuing securities, and settling transactions across major institutions.
