Cari Taps ZKsync’s Prividium as US Banks' Answer to Stablecoins

Cari Network, led by former Comptroller of the Currency Gene Ludwig, has selected Matter Labs’ Prividium infrastructure, built on ZKsync and anchored to Ethereum, to create a bank-governed tokenized deposit network for US regional and mid-sized lenders. This platform allows banks to issue and move tokenized deposits 24/7 while maintaining them as bank liabilities. Five US banks – Huntington Bancshares, First Horizon, M&T Bank, KeyCorp, and Old National Bancorp – have been involved in the network’s design and testing since February. The Mid-Size Bank Coalition of America supports the model, emphasizing the importance of keeping deposits within regulated institutions. Prividium focuses on privacy, control, and on-chain auditability, separating transaction data from personally identifiable information. While ZKsync’s public network has faced usage challenges, its roadmap is increasingly focused on institutional use cases like this, prioritizing privacy and interoperability. ZKsync CEO Alex Gluchowski believes tokenized deposits complement stablecoins, positioning deposits as the primary payment tokens within banks’ private infrastructure.

(Source：Cointelegraph)