A group of U.S. regional banks, including Huntington Bancshares, First Horizon, M&T Bank, KeyCorp and Old National Bancorp, is developing the Cari Network to move tokenized deposits instantly on blockchain rails while keeping funds inside the regulated banking system. The platform is being built on Prividium, a private permissioned blockchain developed by Matter Labs on ZKsync infrastructure, and is designed so digital tokens remain regular bank deposits on banks’ balance sheets under existing regulation and FDIC insurance. Backed by the Mid-Size Bank Coalition of America, the project will test issuance, transfers and redemption of tokenized deposits ahead of a broader 2026 rollout, as banks seek faster, round-the-clock settlement without relying on nonbank stablecoins.