Stablecoin regulation is rapidly becoming a key issue in the global financial landscape. The massive daily trading volume of digital dollars issued by crypto companies has sparked numerous discussions about the future of banking payments. Traditional financial institutions are also actively responding by launching new blockchain-based infrastructures to compete with crypto-native stablecoins.
According to reports, five regional banks in the U.S. have recently launched the Cari network, a blockchain settlement system based on ZKsync. This network allows for instant transfers using tokenized deposits while keeping funds within insured bank accounts. This design aims to combine the speed of blockchain with the compliance of stablecoin regulation, providing banks with a way to compete with digital assets like USDT and USDC.
ZKsync's Prividium Brings Institutional Blockchain Infrastructure
Alex Gluchowski, CEO of Matter Labs, pointed out that finance is shifting from isolated databases to shared digital infrastructures. The system enables instant transfers through tokenized deposits, which represent the cash held by banks existing on the blockchain. Unlike stablecoins backed by external reserves, these deposits remain a direct liability of the issuing bank.
The Rise of Tokenized Deposits Driven by Stablecoin Regulation
The increasingly heated debate surrounding stablecoin regulation is prompting banks to seek alternatives to private stablecoins. Tokens like USDT and USDC support instant global transfers, while banks still rely on slower wire transfer systems and limited business hours.
Another advantage is protection. Tokens issued through this network still comply with Federal Deposit Insurance Corporation (FDIC) protections, giving them a competitive edge over most stablecoins that do not offer deposit insurance.
Banks Race to Defend the $8 Trillion Digital Payments Market
Regional banks are concerned that losing this settlement layer could render them passive liquidity holders. At the same time, institutional investment interest continues to grow; for instance, Blackstone recently invested nearly $600 million in Bitcoin, reflecting increasing confidence in blockchain finance. Meanwhile, networks like Solana dominate in high-speed stablecoin transfers, forcing banks to build infrastructures that can match crypto speeds while maintaining compliance with stablecoin regulations.
The future of the Cari network largely depends on the development of stablecoin regulation in the coming years. With regulatory clarity still uncertain, banks are moving quickly. Industry leaders warn that the proposed CLARITY Act may struggle to pass by 2026, forcing banks to construct solutions that comply with existing financial rules.
Two possible outcomes remain. In an optimistic scenario, regional banks could pool liquidity while enterprises adopt tokenized deposits for faster and safer payments. In a pessimistic scenario, the network may remain constrained, with traders continuing to rely on global stablecoins.
Regardless, one thing is clear: banks are no longer bystanders; they are actively building a new future.