What Is BINK

On August 27, the Dallas Federal Reserve released a report stating that if tokenized deposits become widely adopted, they could increase the sensitivity of deposits to interest rates, accelerate the flow of funds between banks, and weaken banks' liquidity and maturity transformation capabilities, thereby impacting the supply of credit and financing costs. The report noted that unlike stablecoins such as USDT and USDC, tokenized deposits are typically issued by regulated banks and can earn interest. Technologies like instant settlement via blockchain, smart contracts, and agent-based AI may make it easier for customers to quickly transfer funds in pursuit of higher yields, thus reducing the 'stickiness' of traditional bank deposits. The Dallas Fed estimates that if the sensitivity of deposit rates increases by 10%, banks' capacity to bear interest rate risk could decrease by approximately $700 billion (based on a 10-year equivalent). If the weighted average maturity of deposits shortens by 10%, the banking system's maturity transformation capacity could decline by about $580 billion. The report suggests that if banks wish to maintain their current lending levels, they may need to rely more on wholesale financing such as term debt, ultimately bringing their lending financing model closer to that of non-bank financial institutions and potentially raising credit costs for consumers and businesses. Currently, several global banks have begun testing tokenized deposits and around-the-clock settlement systems, and the potential impact of tokenized deposits on the traditional banking system is receiving increasing attention from regulators.

On August 27, the Dallas Fed released a report stating that if tokenized deposits become widely adopted, they could increase the sensitivity of deposits to interest rates, accelerate the flow of funds between banks, and weaken banks' liquidity and maturity transformation capabilities, thereby impacting bank credit supply and financing costs. The report noted that unlike stablecoins such as USDT and USDC, tokenized deposits are typically issued by regulated banks and can earn interest. Technologies like instant settlement on blockchain, smart contracts, and agent-based AI may make it easier for customers to quickly transfer funds in pursuit of higher yields, thus diminishing the 'stickiness' of traditional bank deposits. The Dallas Fed estimates that if the sensitivity of deposit rates increases by 10%, banks' capacity to bear interest rate risk could decrease by approximately $700 billion (calculated on a 10-year equivalent basis); if the weighted average maturity of deposits shortens by 10%, the banking system's maturity transformation capacity could decrease by about $580 billion. The report suggests that if banks wish to maintain their current loan volumes, they may need to rely more on wholesale financing such as term debt, ultimately bringing the financing model of bank loans closer to that of non-bank financial institutions and potentially raising credit costs for consumers and businesses. Currently, several global banks have begun testing tokenized deposits and around-the-clock settlement systems, and the potential impact of tokenized deposits on the traditional banking system is drawing increasing attention from regulators.

On August 27, 39 U.S. state bank associations established the BankChain Alliance, aiming to create a blockchain network owned and governed by community and regional banks, with a target launch in 2027. The network is intended to support features such as tokenized deposits, stablecoins, programmable payments, and automated settlements, with the goal of helping small and medium-sized banks access blockchain financial infrastructure while adhering to existing regulatory standards. Currently, BankChain has not disclosed details about technology providers, underlying blockchain, network architecture, governance model, or regulatory framework, nor has it specified whether it will be based on existing public chains like XRP, Ethereum, or Solana. The alliance stated that the network is expected to cover thousands of financial institutions in the U.S.