Published Feb 18, 2026 · Bloomberg
Huntington, M&T, KeyCorp and peers join Cari Network — Eugene Ludwig's blockchain platform — to build tokenized deposits and stay relevant in the digital asset era.
US banks including Huntington, First Horizon, M&T Bank, KeyCorp, and Old National are building a tokenized deposit network through Cari — a blockchain platform led by former US Comptroller Eugene Ludwig. The initiative, in development since September, aims to keep banks competitive as digital assets reshape finance.
BitGo and ZKsync are teaming up to offer banks a full-stack infrastructure for tokenized deposits, as financial institutions look to bring traditional money onto blockchain rails without stepping outside regulatory boundaries.
Five US regional banks are building the Cari Network on ZKsync — tokenized deposits with stablecoin-speed settlement, FDIC-insured and fully within the banking system.
