Cronos zkEVM Joins Elastic Chain, Enhancing Interoperability

**Five US regional banks** representing over $600 billion in deposits have joined the [Cari Network](https://www.zksync.io/blog/five-us-banks-are-moving-to-zksync), launching the first tokenized deposits network powered by ZKsync's Prividium technology. **Key developments:** - Partnership with **BitGo** provides banks a turnkey solution for issuing, transferring, and settling tokenized deposits onchain - **ZKsync Connect** introduced as the first interoperability protocol built specifically for institutions - Banks can integrate blockchain technology without building complex internal systems **Why it matters:** Small and mid-sized banks are transforming to compete in the digital assets economy. Tokenized deposits enable efficiency gains in intrabank and interbank settlement, creating a new money layer for traditional finance. The solution runs on **Prividiums** - private, enterprise-controlled chains that allow regulated institutions to maintain compliance while accessing blockchain benefits. [Read the full announcement](https://www.zksync.io/blog/five-us-banks-are-moving-to-zksync)

**Cari Network is building the first tokenized deposits network in the United States**, developed alongside five regional banks: Huntington Bank, First Horizon, M&T Bank, KeyBank, and Old National. Together representing $600B in deposits, these institutions are leveraging ZKsync's Prividium technology to bring bank-issued digital deposits onchain. **Key differences from stablecoins:** - Tokenized deposits are direct bank liabilities, not synthetic assets - Integrated with core banking systems - Eligible for FDIC insurance - Operate within existing regulatory frameworks **What Prividium enables:** - Private, enterprise-controlled blockchain infrastructure - Real-time settlement while maintaining compliance - Security anchored to Ethereum - 24/7 programmable money within banking regulations The network aims to modernize deposit infrastructure for the $8.3T held by regional banks, allowing them to compete in the digital assets economy while preserving privacy and regulatory safeguards. [Read the full case study](https://www.zksync.io/case-studies/cari-network)

**Cari Network is building infrastructure to connect community banks to tokenized deposits**, addressing a gap in how small businesses access digital financial services. - Gene Ludwig, Cari's CEO, explains that small businesses rely on local community banks rather than large institutions - The network aims to transform the **$8.3 trillion asset economy** controlled by community banks - Built on ZKsync, the platform enables these smaller banks to participate in digital asset markets Ludwig emphasizes that banks must lead—not just participate in—digital transformation to remain relevant. The tokenized deposit network provides community banks with tools to serve their small business customers in emerging digital economies.

**Prividium Network** introduces a new approach for institutions to build private, secure blockchain infrastructure while maintaining connectivity to Ethereum and other Prividiums. **Key Features:** - Institutions can own and control their private onchain rails - Maintains connection to Ethereum and other Prividium networks - Combines privacy with enterprise-grade control - Represents first private blockchains connected to public systems while preserving privacy The vision was presented by @gluk64 on The Rollup, highlighting how this architecture addresses institutional needs for both privacy and interoperability in blockchain infrastructure.

**ZKsync representative @gluk64 will speak at the Digital Chamber's DC Blockchain Summit on March 18.** - **Topic**: The role of tokenized deposits in next-generation financial markets - **Focus**: Bridging policy and banking infrastructure - **Time**: 1:35 PM - **Location**: Washington, D.C. The presentation addresses privacy, compliance, and institutional adoption in the evolving landscape of digital finance.