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BitGo and ZKsync are integrating institutional custody with a permissioned blockchain to help banks issue and settle tokenized deposits within existing regulatory frameworks. The infrastructure, currently in testing, is designed to support programmable payments while simplifying blockchain adoption for financial institutions.
The partnership combines BitGo’s institutional custody and wallet services with ZKsync’s Prividium, described as a permissioned, privacy-preserving blockchain for regulated entities. Together, the offering is intended to enable banks to issue, transfer, and settle tokenized deposits while maintaining compliance and control.
The initiative reflects a broader push by crypto infrastructure providers to work with banks by packaging blockchain capabilities into systems that are designed to be compliance-friendly. Rather than requiring institutions to build and manage complex onchain architecture, the approach aims to bring traditional financial activity onto blockchain rails within regulatory boundaries.
Tokenized deposits are presented as a distinct alternative to stablecoins. While stablecoins typically operate outside the traditional banking system, tokenized deposits keep funds within it, potentially allowing programmable transactions without changing existing regulatory structures.
ZKsync creator Matter Labs is positioning its Prividium network as a bridge between public blockchain innovation and institutional requirements, including 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.”
BitGo and ZKsync said the combined stack is already being tested with regulated financial institutions. They also indicated that a broader production rollout is targeted for later this year.
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