JPMorgan and Singapore’s DBS Bank have launched a new system that lets institutional clients move tokenised deposits across different blockchain networks. This means money can now flow between private bank blockchains and public ones like Ethereum-based systems, something that was not possible before.
The project links JPMorgan’s Kinexys Digital Payments platform with DBS Token Services, creating a shared digital payment bridge between the two banks. This allows for real-time transfers without relying on traditional systems such as SWIFT or central banks. Instead of just digitising existing payments, the two banks are building a way to connect their blockchain systems so money can move freely and securely between them.
Until now, banks have been using tokenised deposits only within their own closed systems. This new model changes that by connecting those private networks. It allows a JPMorgan client holding a USD token on Coinbase’s Base blockchain (a public Ethereum layer) to send that value to a DBS client directly. The DBS client can then either cash out or hold the tokens within DBS’s system.
This setup shows how blockchain infrastructure is starting to become interoperable, meaning different blockchains can now “talk” to each other. It’s a big shift from the days when each blockchain operated in isolation.
For years, banks experimented with blockchain mainly through internal tests. Now, those experiments are becoming practical payment systems. JPMorgan had already made headlines earlier by issuing a deposit token on the Base blockchain, one of the first times a major global bank used a public blockchain for institutional money.
This new framework makes those efforts official, allowing the same digital money to keep its value even when moved across different blockchains. To make that work safely, both banks have built strict regulatory and technical safeguards that align with traditional financial standards.
The goal is to make tokenised money usable not just within a bank but across the global financial system. This will help companies make payments, manage treasury operations, and settle transactions instantly, all without waiting for clearinghouses or cross-border delays.
The Bank for International Settlements (BIS) recently reported that about one-third of global banks are now exploring tokenised deposits. The collaboration between JPMorgan and DBS goes a step further by proving that these digital tokens can move between multiple banks and across borders in real time.
Both institutions operate in highly regulated markets, the US and Singapore, where authorities are encouraging blockchain innovation under clear financial rules.
In simple terms, JPMorgan and DBS are showing how the future of banking might look. Instead of money sitting on slow, traditional rails, it could soon move through blockchain corridors that are instant, transparent, and programmable.
This marks a turning point where tokenised deposits are no longer just trials or tech demos. They are becoming real infrastructure, the base layer for how institutional money might move around the world in the years to come.