TechFlow News, March 26: According to CoinDesk, BitGo and zkSync have announced a partnership to launch a full-stack infrastructure for tokenized deposits targeting banking institutions; the platform is currently in its testing phase.
This collaboration integrates BitGo’s institutional-grade custody and wallet services with Prividium—a permissioned blockchain network developed by Matter Labs, zkSync’s parent company. The infrastructure aims to help banks issue, transfer, and settle tokenized deposits within existing regulatory frameworks while supporting programmable payments.
Unlike stablecoins, tokenized deposits keep funds within the traditional banking system, enabling on-chain programmable transactions without altering current regulatory frameworks. Alex Gluchowski, CEO of Matter Labs, stated that tokenized deposits represent “the way banks can bring funds on-chain without stepping outside the regulatory system.”
