U.S. regional banks building a tokenized deposit network on ZKsync to rival stablecoins
That’s a key distinction from stablecoins, which are often issued by nonbank companies. Cari says its tokens will still represent regular bank deposits, meaning they stay on banks’ balance sheets and remain subject to existing regulations and FDIC insurance.
Under the hood, the system will run on “Prividium”, which is a private, permissioned blockchain built by Matter Labs, the main developer firm building the ZKsync network. Only approved participants — like banks — can use it, and transactions are designed to be both fast and private while still allowing regulators to audit activity when needed.