How U.S. Banks Are Quietly Preparing for an Onchain Future

Key takeaways

• US banks are prioritizing tokenized versions of familiar products, including deposits, funds and custody, rather than launching new crypto-native assets.

• Most onchain bank activity is taking place in wholesale payments, settlement and infrastructure, largely out of public view.

• Regulators are increasingly allowing crypto-related banking activities, but only within tightly supervised and risk-managed frameworks.

• Public blockchains such as Ethereum are being tested by major banks, but exclusively through controlled and compliant product…