Published Apr 13, 2026
Alex Gluchowski on Tokenized Deposits, Privacy & Bringing Banks On-Chain | Fintech TV
Transcript
Well, joining me this morning at the New York Stock Exchange is Alex Gluchowski, who's co-founder and CEO. Now Matter Labs is the developer of ZKsync. Well, great to have you here. Thank you so much for joining me. Really excited to be here. Well, as twenty twenty six gets underway, all eyes are on what's happening on the regulatory front. But for the layperson out there, can you walk us through the actual difference between a stablecoin and a tokenized bank deposit? Absolutely. So the technologically, they are both underlying the same basic technology or product. It's both tokenized assets that can use all the benefits of blockchains. The difference is more in how they treat it from the legal perspective. Uh, stablecoins are bearer instruments. Tokenized deposits are actual representation of your deposit at a bank, and so they are treated the same way you have FDIC insurance. They are staying within the perimeter of the bank, and the bank can use the deposit funds to fund to, to actually execute their banking activity. Um, so it's from the banking perspective, it's actually the same thing, just a higher utility on the side of velocity and efficiency of operations. And you and I are here at the New York Stock Exchange. And when we're talking about what's happening between Tradfi and DeFi, give us your take on privacy, especially privacy technology, where we stand right now. Privacy is a critical blocker for traditional institutions to go on chain, whereas the crypto native world has not cared that much. They're deeply about privacy for for the last years, maybe. Uh, assuming that pseudonymity on chain will be sufficient, this is absolutely not acceptable for banks. This is absolutely not acceptable for real businesses that move real operations on these tokenized rails. Uh, they have to observe their regulations in different jurisdictions, and they also have business interests and they cannot disclose all of their flows to the, to their competitors to, to the entire world. And this is why, uh, blockchains with privacy, uh, is really the, the, the, the enabler that has permitted the banks now to move into this space. This is something that we're building with zero knowledge proofs, which is this amazing new breakthrough technology that gives you the gives you the benefits of privacy and security, of public blockchains and connectivity of public blockchains for the first time. And in a nutshell, you also announced a partnership with BitGo. So tell us what's happening. And in a nutshell, can you explain the infrastructure? Absolutely. So the BitGo partnership enables banks to have a full stack solution out of one hand. Essentially, we partner with these institutions to give them the tokenization platform, the blockchain infrastructure with privacy and connectivity to others, and public and private chains, and now also the regulated custody. With BitGo as a public company, they have a lot of experience in this. They are one of the most highly regarded secure platforms for tokenized custody. So now these institutions have everything they need in one go. And finally, before I let you go, there is no single magic bullet for privacy. But give us your take on what needs to happen. And of course, the timeline for you and BitGo. Uh, so the, uh, this privacy technology that we're building called Prividium is available now and we see institutions are moving into the space. I was just two weeks ago at the DC Blockchain Summit in Washington, where we announced the partnership with the Cari Network. Building on this is a network of five regional US banks founded by the former Comptroller of the Currency. So you can see the the level of trust that these institutions and regulators are now having in these technologies. It's available now. It's moving from experiments into real production and real, uh, real deployments this year. Well, Alex, it was great having you on the show today. Thank you so much for joining us. And thank you so much for laying all of it out for us. Thank you. Thank you.
Alex Gluchowski, co-founder and CEO of Matter Labs (ZKsync), joins Fintech TV at the New York Stock Exchange to break down the difference between stablecoins and tokenized bank deposits, why privacy is the key blocker for institutional blockchain adoption, and how ZKsync's Prividium technology and new partnerships with BitGo and the Cari Network are bringing banks on-chain.
VideoTokenized Deposits: The Gateway to Mass Adoption | DAS NYC 2026 | Day 3 | Main Stage
Jake (BitGo) and Alex Gluchowski (Matter Labs/ZKsync) break down tokenized deposits — how they differ from stablecoins, why banks are racing to move on chain, and how the BitGo x ZKsync partnership gives institutions a full-stack solution with Prividium™ for private, compliant, instant settlement.
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Alex Gluchowski, co-founder of ZKsync, joins The Rollup live from the DC Blockchain Summit 2026 to unpack the launch of Cari Network — the first-ever tokenized deposit network with multiple U.S. banks on a single blockchain infrastructure. Alex explains why Prividium and zero-knowledge cryptography finally resolve the longstanding tension between banks' need for privacy and their need to connect in real time, unlocking a path from T+2 settlement to T+ seconds. He breaks down how tokenized deposits differ from stablecoins, why Ethereum is the only neutral settlement layer all institutions can agree on, and how the $27 trillion trapped in correspondent banking is just the starting point. With five founding banks holding over $600 billion in deposits and more already inbound, Alex makes the case that this is the crystallization point for crypto's original Internet of Value vision.
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VideoTokenized deposits mark a new era for American banking | Alex Gluchowski & Gene Ludwin, DC Blockchain Summit
Alex Gluchowski, co-founder and CEO of Matter Labs, joins Eugene A. Ludwig, founder and CEO of Cari Network, for a panel discussion moderated by Jacqueline Melnyk at the DC Summit. The conversation centers on Cari Network's announcement of a bank-grade tokenized deposit network built on ZKsync's Prividium — bringing together five major U.S. regional banks including Huntington Bancshares, First Horizon, M&T Bank, KeyCorp, and Old National Bancorp. Alex and Eugene explain how Prividium solves the longstanding tension between banks' need for privacy and compliance and the speed and composability that blockchain enables — allowing institutions to move from T+2 settlement to T+ seconds while keeping deposits FDIC-insured and on bank balance sheets. Together they make the case that tokenized deposits and stablecoins are complementary, not competitive, and that this moment represents the first real implementation of crypto's original promise: a fully connected Internet of Value.
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