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A tokenized deposit network is shared infrastructure operated for a group of member institutions. Each member issues its customers’ deposits as tokens on a common ledger. Membership is the defining feature. The network admits institutions under its own rules, and settlement happens between members inside that perimeter. This distinguishes the rail from the other two in Settlement Options. Most stablecoin rail integrations use separate wallets on a settlement chain. A settlement asset moves between the two counterparties. Each side custodies its own position, and the chain takes no view on their identities. On a tokenized deposit network, both counterparties are already members of the same network. Settlement is a transfer recorded inside that shared perimeter, and the network’s rulebook governs when the transfer is final. The Cosmos Tokenization Suite (CTS) reaches these networks through network connectors over IBC. See Connecting Networks.

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Supported networks

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Canton Network

Canton Network is a privacy-enabled blockchain built for institutional finance. Digital Asset originally developed the network, which is now open source. Governance of its interoperability layer sits with the Canton Foundation rather than any single operator. Participants include capital markets institutions, exchanges, custodians, and application providers. The network carries tokenized assets alongside cash. Settlement is recorded directly between the participants involved, with transaction data visible only to them. Canton is also a common starting point for Interop. An institution already running on Canton connects to other networks without replacing what it has.

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Cari

Cari is a permissioned network for tokenized deposits issued by chartered US banks. It was built with a group of US regional and mid-size banks as design partners. Its member banks govern the network. Every participating institution uses the same token form. Therefore, a transfer between two member banks settles on the shared network, not through a correspondent relationship.

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Partior

Partior is a multi-currency clearing and settlement network operated by Partior Pte Ltd in Singapore. DBS, J.P. Morgan, and Temasek founded the network, and Standard Chartered joined as a shareholder. Member banks settle cross-border payments in commercial bank money on a 24/7 basis. The network supports atomic payment versus payment settlement for foreign exchange. This removes the leg risk that arises when both sides of an FX trade settle separately. See Atomic Settlement.

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Progmat

Progmat is a digital asset issuance and management platform operated by Progmat, Inc. in Japan. MUFG and other major Japanese financial institutions back the platform. Progmat serves as shared national infrastructure for security tokens, stablecoins, and other tokenized instruments. A consortium of participating firms operates around it. Progmat supports multiple underlying chains, so the connection point depends on the chain where an instrument is issued.

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Planned

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The Clearing House

The Clearing House operates the RTP and CHIPS networks in the United States. It is building a bank-led tokenized deposit network with a consortium of large US banks. The network is designed to clear and settle tokenized deposits between member banks and connect that activity to the existing RTP and CHIPS rails. Compatibility with this network is planned. It is not available today, and the Suite cannot settle over it. If this rail matters to your deployment, contact sales@cosmoslabs.io.

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What this rail requires

Both counterparties must be members of the same network. This constraint rules the rail in or out, and neither bank can resolve it alone. Membership in one network cannot support settlement with a counterparty belonging to another. Settlement finality is governed by the network’s rules, not by CTS. Each network defines when a transfer is irrevocable and what recourse exists before that point. These definitions differ. Establish the network’s finality position alongside the bank’s own position. That comparison determines the exposure carried between clearing and settlement. See Finality. The network operator sets admission, membership obligations, and any required collateral or liquidity. These requirements sit outside CTS.
Documentation is still required for which networks are enabled during setup, the operational procedure for settling over each network, and the reconciliation treatment for network-side settlement.