Published Mar 17, 2026 · Cointelegraph
Cari Network picks ZKsync's Prividium to power tokenized deposits for US regional banks — enabling 24/7 settlement while keeping deposits on balance sheet.
Cari Network, a permissioned blockchain network led by former US Comptroller of the Currency Gene Ludwig, has chosen Matter Labs' Prividium — built on ZKsync and anchored to Ethereum — to power a tokenized deposit network for US regional and mid-sized banks, with five institutions already involved in design and testing: Huntington Bancshares, First Horizon, M&T Bank, KeyCorp, and Old National Bancorp. The platform enables banks to issue and settle deposits around the clock while keeping them on balance sheet as regulated liabilities, with transaction data separated from personally identifiable information and full auditability for examiners — positioning tokenized deposits as a bank-governed complement to stablecoins.
Five US regional banks are building the Cari Network on ZKsync — tokenized deposits with stablecoin-speed settlement, FDIC-insured and fully within the banking system.
Banks seek stablecoin alternatives. Ex-Clinton regulator Eugene Ludwig's startup Cari builds tokenized deposit network offering faster payments with deposit insurance.
