ZKsync Powers Cari Network for Tokenized Bank Deposits

• Cari enables tokenized digital payments while deposits stay on banks’ FDIC‑insured balance sheets.
• Partner banks can integrate Cari with existing systems while maintaining compliance.
• Prividium powers real-time, private transactions while connecting banks to broader digital asset networks.

The Cari Network has announced plans to build a tokenized deposit platform using Matter Labs’ Prividium, a privacy-focused, permissioned blockchain built on ZKsync technology. The project aims to integrate regulated banking oversight with blockchain infrastructure, providing participating U.S. regional banks with a path to production deployment while remaining compliant with existing financial regulations.

According to the announcement, Cari is designed to offer U.S. banks a compliant path to modernize digital payments while keeping deposits within the traditional banking system. 

Partner banks, including Huntington Bancshares Inc., First Horizon Corp., M&T Bank Corp., KeyCorp, and Old National Bancorp, can link the network to their existing systems, risk frameworks, and oversight structures. Importantly, deposits represented by Cari tokens remain regulated liabilities on the banks’ balance sheets and continue to be covered by FDIC insurance.

Bridging Banks and Digital Payments

The network has received backing from the Mid-Size Bank Coalition of America (MBCA), underscoring regional and community banks’ interest in updating payment infrastructure without undermining safety or customer trust. 

MBCA President and CEO Brent Tjarks said, “Cari’s model keeps deposits on bank balance sheets while enabling modern settlement capabilities, allowing banks to leverage their collective scale responsibly and protect the funding base that supports Main Street.”

At the heart of the network is Prividium, a secure ledger that allows verified counterparties to transact continuously and in real time. The system is designed to protect customer privacy while supporting regulatory audits. Anchored to Ethereum, it also offers a way to interact with broader digital asset ecosystems without compromising institutional controls.

Looking ahead, Cari is preparing for a wider rollout in 2026. Banks will be able to use Cari’s API layer to handle the full lifecycle of tokenized deposits, from issuance and transfers between verified parties to redemption back into U.S. dollars on demand. This setup positions Cari as a practical connection between traditional banking operations and emerging digital asset infrastructure.

Related: Mastercard Highlights Growing Use of Crypto Cards for Routine Transactions