The platform financial institutions trust to take tokenized deposit programs from pilot to production. Backed by more live deployments than any other vendor in the market.
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Tokenized deposits are digital representations of commercial bank deposits issued on a blockchain ledger. They carry the same regulatory protections as traditional deposits (deposit insurance, prudential regulation, central bank oversight) while adding programmability, 24/7 settlement, and composability with digital asset infrastructure.
Tokenized deposits are digital representations of commercial bank money issued on a blockchain or distributed ledger. Unlike stablecoins, which are typically issued by non-bank entities and backed by reserve assets held outside the banking system, tokenized deposits remain a liability of the issuing bank, subject to the same regulatory protections and deposit insurance frameworks as traditional deposits.
This distinction matters for regulated financial institutions. A tokenized deposit carries the same regulatory protections as traditional deposits (deposit insurance, prudential regulation, central bank oversight) while adding programmability, 24/7 settlement, and composability with digital asset infrastructure.
Kaleido provides the enterprise infrastructure to issue and manage tokenized deposits at scale, with built-in compliance, institutional custody, and seamless integration into your existing core banking systems.
Live deployments across commercial banks, central banks, and financial market infrastructures worldwide.
Tokenized deposits are digital representations of commercial bank deposits, issued and settled on a blockchain ledger. They are a liability of the issuing bank, carrying the same credit relationship as a traditional deposit, and are subject to the same capital requirements, deposit insurance, and regulatory oversight.
Stablecoins, by contrast, are typically issued by non-bank entities, backed by a reserve pool of assets (cash, treasuries, or other instruments), and operate outside the traditional banking regulatory perimeter.
The practical difference is that a tokenized deposit at a G-SIB carries the credit quality and regulatory protections of that institution, while a stablecoin carries the credit quality of its issuer and the composition of its reserve. For regulated institutions managing balance sheet exposure, this distinction is fundamental.
Tokenized deposits settle in real time because they skip the correspondent banking chains and batch processing windows that delay traditional interbank settlement by hours to days. Tokenized deposits enable atomic settlement, meaning the simultaneous transfer of the deposit token and the settlement asset in a single transaction, with no intermediary holding period.
On Kaleido's platform, this is implemented through the workflow engine, which coordinates on-chain token transfer with off-chain settlement confirmation via 500+ platform APIs. Settlement can occur against a tokenized cash equivalent, a wholesale CBDC position, or a net settlement instruction to a real-time gross settlement system. The result is final, auditable settlement with a complete on-chain record and no reconciliation lag.
Tokenized deposits are regulated as commercial bank deposits in most jurisdictions. This means they are subject to deposit insurance, prudential regulation (capital, liquidity, and leverage requirements) and central bank oversight. This distinguishes them from stablecoins, which face a more fragmented and evolving regulatory landscape.
In the EU, tokenized deposits fall under existing banking regulation rather than MiCA. Kaleido's policy engine is configurable to meet the specific compliance obligations of any jurisdiction, including AML/CFT, Travel Rule, and jurisdictional transfer restrictions.
Yes. Tokenized deposits and wholesale CBDCs are designed to operate as complementary instruments in the same settlement ecosystem. Wholesale CBDCs, issued by central banks, provide the settlement asset. Tokenized deposits, issued by commercial banks, represent the claim on commercial bank money that is settled using that asset.
Kaleido supports connectivity to both layers. Its workflow engine can coordinate on-chain settlement between a tokenized deposit ledger and a central bank CBDC rail using ISO 20022-compatible messaging. Kaleido has active deployments with 20+ central banks and is connected to financial market infrastructure across multiple jurisdictions, providing a tested interoperability layer between commercial bank tokenized deposit programs and central bank settlement rails.
See the Tokenized Reserves (wCBDC) page →
Wholesale CBDCs are digital central bank money issued directly by the central bank. Tokenized deposits are commercial bank money, a private sector liability issued by licensed banks subject to deposit insurance.
The two instruments serve complementary roles: tokenized deposits handle interbank liquidity flows and commercial payment activity, while wholesale CBDC provides the final settlement asset that underpins the system. Kaleido supports both and the interoperability layer between them.
Kaleido supports a number of networks including Besu, Ethereum, Canton, Base, Arbitrum, Avalanche, Stellar, Solana, and more. The right network depends on your program: permissioned networks like Besu and Canton give the issuing bank control over participants and data, while public networks like Ethereum and Base extend reach to more counterparties.
See the Chain Infrastructure page →
Kaleido's policy engine enforces transaction rules before signing, covering counterparty identity, value thresholds, velocity, and jurisdiction. Built-in integrations with Notabene (Travel Rule) and Chainalysis (AML) cover the most common regulatory requirements. Every signing event is cryptographically logged. Compliance configuration and rules are configured by the client to meet necessary obligations and requirements.
