The Cari Network is the first tokenized deposit network connecting chartered banks and decentralized finance on a shared ledger, delivering instant, 24/7/365 settlement without leaving the regulatory perimeter. Built on a permissioned Layer-2 blockchain anchored to Ethereum, it brings commercial deposits on-chain while preserving the safety and benefits of traditional bank money. The result is an interoperable payment rail that pairs blockchain speed and programmability with the trust and scale of the banking system. Led by banking, financial regulation, and digital asset experts—and co-developed and governed with banks—the Cari Network is powering the next shift of institutional money movement: one that’s instant, trusted, and always-on.
Last 30rd of April, it announced it has entered into a strategic partnership with Tassat, the pioneer behind the first blockchain-based tokenized deposit network successfully deployed in a live U.S. banking environment, as it advances its approach to bank-led digital money movement.
Tassat Group, Inc. delivers institutional-grade blockchain solutions that enable regulated financial institutions to transact in real time with greater efficiency, speed, and transparency. Having settled more than $2.5 trillion to date, Tassat’s infrastructure operates within regulatory perimeters across global markets, supporting instantaneous transaction and settlement capabilities across financial services, digital assets, and capital markets. Tassat was honored with a 2021 Google Cloud Customer Award for Financial Services Innovation and named U.S. FinTech Award winner for Payments Technology in 2023.
Through this agreement, Cari will acquire and incorporate select Tassat technologies and technical expertise—validated in live banking environments—into its platform, accelerating the development of Cari’s tokenized deposit network and the delivery of always-on, programmable payments for U.S. banks.
This announcement follows the successful launch of Cari’s MVP in March, developed alongside a powerhouse group of design partner banks, including First Horizon Corp., Huntington Bancshares Inc., KeyCorp, M&T Bank Corp., Old National Bancorp, and SouthState Bank. In parallel, Cari has expanded its Network to include eight additional banks that have committed to join ahead of production launch later this year, with a broader pipeline of hundreds of institutions in active discussions to participate.
This momentum is supported in part by the endorsement of the Mid-Size Bank Coalition of America, signaling a critical industry shift toward modernizing payment infrastructure in a way that preserves deposits within the banking system and ensures the long-term competitiveness of U.S. financial institutions.
Through this partnership, Cari is advancing a purpose-built model for real-time money movement that is bank-led, production-proven, and built to scale within the U.S. financial system.
Keefe, Bruyette & Woods, A Stifel Company, served as the exclusive financial advisor to Cari on this transaction.