Cari Selects ZKsync’s Prividium to Power Bank-Governed Tokenized Deposit Network
The Cari Network today announced that it is building its bank-grade tokenized deposit network on Matter Labs’ Prividium, the privacy-preserving, permissioned blockchain infrastructure. The Network brings together a bank-governed operating model and institutional blockchain infrastructure purpose-built for regulated financial institutions, as Cari advances toward production deployment in collaboration with participating U.S. regional banks.
Cari was created to give regulated U.S. banks a compliant pathway to modernize digital payments, while preserving deposits within the banking system and remaining competitive as digital assets reshape how money moves globally. The Network has been developed alongside U.S. design partner banks — including Huntington Bancshares Inc., First Horizon Corp., M&T Bank Corp., KeyCorp, and Old National Bancorp — and is purpose-built to integrate into banks’ existing systems, risk frameworks, and supervisory environments. Deposits represented by Cari tokens remain regulated bank liabilities held on participating banks’ balance sheets and subject to existing oversight and FDIC insurance.
The Mid-Size Bank Coalition of America (MBCA) has endorsed Cari’s approach, reflecting growing interest among regional and community banks in modernizing payments infrastructure in a manner consistent with safety, soundness, and customer trust.
“Mid-size banks’ deposits directly support small-business lending and community growth. As digital payments infrastructure evolves, it is essential that innovation strengthens, rather than disintermediates, the regulated banking system,” said MBCA President and CEO Brent Tjarks. “Cari’s model keeps deposits on bank balance sheets while enabling modern settlement capabilities, allowing banks to leverage their collective scale responsibly and protect the funding base that supports Main Street.”
Prividium serves as Cari’s secure, permissioned ledger, enabling verified counterparties to transact instantly, 24/7/365, while protecting sensitive customer and transaction data and supporting regulatory auditability. Anchored to Ethereum, the infrastructure also allows interoperability with the broader digital asset ecosystem without compromising institutional controls.
Cari is advancing implementation efforts as it prepares for broader production rollout later in 2026. Participating banks will connect to Cari’s API layer to validate the core lifecycle of a tokenized deposit, from the issuance of digital tokens representing customer deposits, to the instant transfer of those tokens between verified parties, to the redemption back into USD on demand.
Cari delivers "always-on" programmable cash settlement capabilities while preserving essential deposit protections, supervisory oversight, and institutional trust.
“Banks should be leading the next phase of digital money, not reacting to it,” said Cari Founder and CEO Gene Ludwig. “Cari is built to modernize payments from within the regulated system. By anchoring the Network on Prividium, we are combining institutional blockchain infrastructure designed for safety, transparency, and long-term stability.”
"Financial infrastructure is undergoing the same shift computing went through decades ago, from siloed databases to shared, programmable infrastructure. With Prividium, banks can issue and move deposits on blockchain infrastructure while preserving the privacy, compliance, and control required by regulated institutions. Cari shows how banks can lead in the digital assets economy." said Alex Gluchowski, CEO of Matter Labs.
The collaboration between Cari and Matter Labs establishes a foundation for regulated digital money, providing a scalable pathway for U.S. banks to help lead the next generation of global payments infrastructure.