After years of experimenting with crypto assets and stablecoins, traditional banks are preparing to issue their own form of digital money: tokenized deposits.
According to the 2025 Global Payments Report by Boston Consulting Group, this development marks a new phase in digital finance. Major global banks — including J.P. Morgan, Citi, HSBC, and BBVA — are already piloting systems where traditional bank deposits exist on blockchain rails.
In these pilots, ordinary deposits become instantly transferable, programmable, and fully regulated digital money. The report highlights that adoption is accelerating as regulation matures and financial institutions search for faster, cheaper, and more transparent settlement infrastructure.
This shift raises a natural question for regulated digital industries — including iGaming.
Vitalijs Feldmanis, CEO of Finassets, explains what this trend means in practice: how tokenized deposits can change B2B payouts, why players will not interact with them directly, and why stablecoins will continue to dominate cross-border and user-facing payments.
What Happened?
Banks are starting to use stablecoins and tokenized deposits as part of their settlement infrastructure.
What Are Tokenized Deposits?
Tokenized deposits are bank-issued digital money that moves on blockchain rails.
They represent regular bank funds, but with several key differences:
- instant, 24/7 settlement,
- no intermediary delays,
- operation within regulated banking systems.
In essence, tokenized deposits combine traditional bank money with blockchain-based settlement mechanics.
Key Benefits for iGaming
1. Speed
Tokenized deposits enable instant transfers between operators, affiliates, suppliers, and content providers. This improves liquidity turnover and reduces pressure on accounting and treasury operations.
2. Flexibility and Automation
Because these deposits are programmable, they support:
- scheduled transfers,
- automatic fund distribution,
- temporary locks,
- conditional payment flows.
This reduces manual errors and improves expense control across complex payout structures.
3. Compliance and Transparency
As bank-issued digital money, tokenized deposits operate under full regulation. They include complete KYC coverage and auditable transaction logs, which reduces regulatory risk and simplifies international audits.
What Changes for iGaming If Banks Issue Tokenized Deposits
Despite their advantages, tokenized deposits will not be directly available to players.
These instruments operate inside closed banking ecosystems and are accessible only to bank clients. As a result, player-facing flows will not move to tokenized deposits.
For deposits, withdrawals, and retail payment flows, iGaming platforms will continue to rely on:
- cards,
- e-wallets,
- cryptocurrencies.
The primary impact of tokenized deposits lies elsewhere.
Their biggest effect will be on internal iGaming B2B operations — settlements between companies, affiliates, suppliers, and regional entities. In these flows, tokenized deposits enable faster, cheaper, and more transparent settlement across the entire value chain.
Will Tokenized Deposits Replace Stablecoins?
Tokenized deposits will not replace stablecoins. Instead, they will exist alongside them.
Both are forms of digital money operating on blockchain infrastructure, but they are built on different foundations.
Tokenized Deposits (Banks)
- issued by banks,
- backed by banking infrastructure and deposit insurance,
- fully regulated and compliant,
- suited for corporate, high-risk, and regulated operations.
They are positioned to become the standard for B2B and corporate settlement.
Stablecoins (Private Issuers)
- issued by private companies,
- operate on open global networks without banking barriers,
- highly accessible and flexible,
- essential for cross-border transfers, Web3 use cases, and retail payments.
They remain dominant in consumer and international flows.
Takeaway for iGaming
A dual system is emerging:
- Tokenized deposits — for internal payouts and high-value B2B transfers.
- Stablecoins — for cross-border and user-facing transactions.
iGaming companies will use both instruments in parallel, with each serving a distinct strategic role within the payment stack.