Tokenized deposit

How it is used

The underlying claim is on a bank; tokenization does not make it central bank money.

Example sentences

1. The pilot represented the customer's bank balance as a tokenized deposit.

   The technology changes the representation of the deposit claim.

2. Participants used tokenized deposits to test programmable settlement.

   A token representation can support conditional transaction processing.

Common collocations

• tokenized deposit pilot
• tokenized deposit transfer

Related terms

• depositMoney that you put into a bank account, or the act of putting it there. For a bank, customer deposits are its main source of funding.
• fintechShort for financial technology: technology that improves or automates financial services, and the companies that build such products.

More terms: Fintech & Digital Banking

• mobile banking
• online banking
• digital wallet
• open banking
• buy now, pay later
• neobank
• instant payment
• top up
• OTP
• phishing
• two-factor authentication
• virtual card