BitGo and ZKsync Partner to Bring Tokenized Deposits to Banks

Traditional finance and blockchain technology are converging faster than ever, and a new partnership between BitGo and ZKsync is set to accelerate that shift. The two companies are joining forces to deliver a comprehensive, compliance-ready infrastructure that enables banks to bring tokenized deposits onto blockchain rails — without stepping outside existing regulatory boundaries.

At the heart of the collaboration is ZKsync's Prividium, a permissioned and privacy-preserving blockchain network built specifically for regulated entities. Paired with BitGo's industry-trusted institutional custody and wallet services, the combined stack gives financial institutions everything they need to issue, transfer, and settle tokenized deposits securely and efficiently. Rather than building complex onchain systems from scratch, banks can now plug into a ready-made solution designed with their compliance requirements in mind.

Tokenized deposits are quickly gaining traction as a practical alternative to stablecoins for banks exploring blockchain-based payments. The key difference is significant — while stablecoins typically operate outside the traditional banking system, tokenized deposits keep funds firmly within it. This distinction allows institutions to leverage programmable transaction capabilities without triggering changes to the regulatory frameworks they already operate under, making adoption far less disruptive.

ZKsync creator Matter Labs is positioning Prividium as the bridge between public blockchain innovation and the privacy and permissioning demands of institutional finance. CEO Alex Gluchowski described tokenized deposits as the mechanism through which banks can bring money onchain while remaining fully within the regulatory system — a framing that speaks directly to what risk-conscious financial institutions need to hear.

The partnership is already moving beyond the concept phase. Both companies confirmed the joint infrastructure is currently being tested with regulated financial institutions, with a broader production rollout planned for later this year. As more banks look to modernize payment infrastructure, this collaboration signals that blockchain adoption in traditional finance is no longer a question of if — but when.