{"slug":"tokenized-deposits-vs-stablecoins","question":"What are tokenized bank deposits — and how are they different from stablecoins?","answer":"4 tokenized deposit services in our data; confirmed by the bank: Citi Token Services, JPMorgan Deposit Token (JPMD); reported: DCJPY tokenised yen deposits, HSBC Tokenised Deposit Service.","shortAnswer":"4 tokenized deposit services in our data; confirmed by the bank: Citi Token Services, JPMorgan Deposit Token (JPMD); reported: DCJPY tokenised yen deposits, HSBC Tokenised Deposit Service. All are for the bank’s own clients — none can be bought on an exchange. The difference to a stablecoin: a deposit token is bank money, protected and regulated like an account; a stablecoin is a claim on a reserve held by a non-bank issuer.","asOf":"2026-10-16","faq":[{"q":"Are tokenized deposits covered by deposit insurance?","a":"They are deposits, so the usual rules of the bank’s country apply — up to the insured limit, and only for eligible depositors. Stablecoins are not deposits and are not covered; their protection is the issuer’s reserve and, in the EU, MiCA’s reserve rules."},{"q":"Do tokenized deposits pay interest?","a":"They can — interest on a deposit is the bank’s decision, as on any account. Payment stablecoins may not pay interest in the EU (MiCA) and, under the US GENIUS Act, issuers may not pay it either."},{"q":"Which of them can I buy without KYC?","a":"None of them is stated as buyable without KYC."}],"count":4,"rows":[{"ticker":"CITI-TOKEN-SERVICES","name":"Citi Token Services — tokenized deposits (USD, EUR and other currencies, 24/7)","issuer":"Citibank, N.A. and Citi branches","category":"Tokenized Deposits","yield":"Not stated by the source","yieldPct":null,"yieldKind":null,"minimumUsd":null,"size":null,"chains":"Citi private permissioned blockchain","country":"USA","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://www.citigroup.com/global/news/press-release/2026/citi-token-services-expands-global-footprint-japan-united-arab-emirates","lastVerified":"2026-10-16T19:00:00.000Z","tier":"imported","page":"https://tokenbank.world/token/CITI-TOKEN-SERVICES","json":"https://tokenbank.world/api/tokens/CITI-TOKEN-SERVICES"},{"ticker":"JPMD","name":"JPMorgan Deposit Token (JPMD) — tokenized USD bank deposit on Base","issuer":"JPMorgan Chase Bank, N.A. (Kinexys)","category":"Tokenized Deposits","yield":"Not stated by the source","yieldPct":null,"yieldKind":null,"minimumUsd":null,"size":"999,689 JPMD in circulation (read on chain 2026-10-18)","chains":"Base","country":"USA","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":"0x7e0aedc93d9f898be835a44bfca3842e52416b82","source":"https://www.jpmorgan.com/onyx/content-hub/deposit-tokens","lastVerified":"2026-10-16T19:00:00.000Z","tier":"imported","page":"https://tokenbank.world/token/JPMD","json":"https://tokenbank.world/api/tokens/JPMD"},{"ticker":"DCJPY","name":"DCJPY tokenised yen deposits (DeCurret DCP network)","issuer":"DeCurret DCP (issuing banks: GMO Aozora Net Bank; Japan Post Bank planned)","category":"Tokenized Deposits","yield":"Not stated by the source","yieldPct":null,"yieldKind":null,"minimumUsd":null,"size":null,"chains":null,"country":"Japan","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://www.theasianbanker.com/updates-and-articles/how-dcjpy-is-building-the-tokenised-deposit-model-in-japan","lastVerified":null,"tier":"imported","page":"https://tokenbank.world/token/DCJPY","json":"https://tokenbank.world/api/tokens/DCJPY"},{"ticker":"HSBC-TDS","name":"HSBC Tokenised Deposit Service (HKD, SGD, USD, GBP, EUR)","issuer":"HSBC","category":"Tokenized Deposits","yield":"Not stated by the source","yieldPct":null,"yieldKind":null,"minimumUsd":null,"size":null,"chains":null,"country":"Hong Kong","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://treasurytoday.com/press-releases/press-release-hsbc-launches-new-cross-border-tokenised-deposit-service/","lastVerified":null,"tier":"imported","page":"https://tokenbank.world/token/HSBC-TDS","json":"https://tokenbank.world/api/tokens/HSBC-TDS"}],"programs":[],"underlyings":[],"sources":[],"_links":{"page":"https://tokenbank.world/answers/tokenized-deposits-vs-stablecoins","index":"https://tokenbank.world/api/v1/answers"},"_citation":"TokenBank, “What are tokenized bank deposits — and how are they different from stablecoins?”, https://tokenbank.world/answers/tokenized-deposits-vs-stablecoins (data as of 2026-10-16), CC BY 4.0.","_license":"CC BY 4.0 — https://creativecommons.org/licenses/by/4.0/","_disclaimer":"Computed from sourced data; yields are variable and not guaranteed. Not investment advice. Verify each row’s source before relying on it."}