ZKsync has announced the launch of Cari Network, a new platform developed alongside five regional banks that wants to bring tokenized deposits onchain. New Network: The Cari Network – developed by ZKsync in collaboration with Huntington Bancshares, First Horizon, M&T Bank, KeyBank, and Old National Bancorp – is built on ZKsync's "Prividium" stack, a flexible Ethereum L2 framework designed for financial institutions that prioritizes private execution and compliance. According to a press release, Cari Networ ...

Five major U.S. regional banks just launched a direct assault on the private stablecoin market. The consortium unveiled the Cari Network today, a blockchain-based payment rail built on ZKsync that enables instant settlement of tokenized deposits without funds leaving the insured banking perimeter. This marks the most significant attempt yet by traditional finance to reclaim the settlement layer from dominant non-bank issuers like Tether and Circle. Key Takeaways: The Cari Network leverages ZKsync’s “Pri ...