Tokenized deposits
Plain definition. A tokenised deposit is a bank deposit whose balance is recorded on a distributed ledger instead of a traditional bank ledger, and it still counts legally as a deposit.
Technical definition. The European Banking Authority’s December 2024 report defines a tokenised deposit as “a deposit balance recorded on a DLT or similar technology,” and says that tokenisation does not per se alter the fundamental nature of the depositor’s claim against the credit institution, so it remains a deposit. Tokenised deposits may be native, where the distributed ledger serves as the primary record-keeping ledger in a “one-layer model,” or non-native, where a “two-layers model” keeps a corresponding off-chain deposit account and requires reconciliation processes. In the account-based cases observed so far, the claim is bound to the identity of the account-holder and is not directly transferable to a non-client. A payment destroys the sender’s claim on its bank and creates a new claim on the receiver’s bank, which is cleared by interbank settlement.
On this site
On this site, Tokenized deposits comes up in Who does XRP actually compete with in cross-border payments?, Is XRP replacing SWIFT, or could they work together?, Why might an institution choose not to use XRP?, What is Swift’s blockchain ledger, and is it live? and What are tokenized bank deposits, and how do they differ from stablecoins and XRP?.
Source
REPORT ON TOKENISED DEPOSITS (eba.europa.eu), read October 1, 2026.
Pages that cover Tokenized deposits
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- Is JPMorgan's JPM Coin or Kinexys a competitor to XRP?
- Why might an institution choose not to use XRP?
- Is XRP replacing SWIFT, or could they work together?
- What is Swift's blockchain ledger, and is it live?
- What are tokenized bank deposits, and how do they differ from stablecoins and XRP?
- Who does XRP actually compete with in cross-border payments?