cryptonews.net
Cari, a tokenized deposit network for regulated banks, has joined the American Bankers Association (ABA) Premier Partner Network. The company develops blockchain infrastructure that helps banks issue and manage tokenized deposits while keeping them under the control of regulated financial institutions.
At the same time, Cari continues to expand its network. SouthState Bank became a new design partner alongside Atlantic Union Bank, Bank of Vernon, ConnectOne Bank, FNBO, Glacier Bank, MidFirst Bank, Raymond James Bank, Southwest Heritage Bank, and Washington Trust Bank. More than 30 banks have already joined the network, while another 40 are in discussions. Together, these institutions represent more than $10 trillion in assets.
The ABA grants Premier Partner status to companies that make a long-term contribution to the banking industry. Through this partnership, Cari plans to work with member banks on the adoption of tokenized deposits and new digital payment infrastructure.
The Cari Network runs on a private permissioned blockchain where participating banks control governance, access, and transactions. The platform allows tokenized deposits to be issued, transferred, and redeemed in real time while meeting regulatory requirements.
Later this year, Cari plans to launch a pilot program with six design partner banks: First Horizon, Huntington, KeyBank, M&T Bank, Old National Bank, and SouthState Bank. The pilot is expected to become the final step before the network enters full production.
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