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Crypto industry reacts after Clarity Act fails Senate vote
The Clarity Act fell short of 60 votes in the Senate. CoinDesk rounds up how crypto and banking leaders, including Matter Labs, are reading the outcome.
ZKsync News > BitGo teams with ZKsync to bui...
Published Mar 26, 2026 · CoinDesk
BitGo teams with ZKsync to build tokenized deposit infrastructure to bring banks onchain
BitGo and ZKsync are teaming up to offer banks a full-stack infrastructure for tokenized deposits, as financial institutions look to bring traditional money onto blockchain rails without stepping outside regulatory 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 firms to court banks by packaging blockchain capabilities into compliance-friendly systems—sidestepping the need for institutions to build and manage complex onchain 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 it, potentially enabling programmable transactions without altering existing regulatory frameworks.
ZKsync creator Matter Labs is positioning its Prividium network as a bridge between public blockchain innovation and institutional requirements such as privacy and permissioning. Matter Labs CEO Alex Gluchowski said in a press release that tokenized deposits represent “how banks bring money onchain without leaving the regulatory system.”
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