Global Finance News
30 Apr 2026, 17:31
FIS announced the launch of “Project Keystone,” a bank-led digital money network developed in collaboration with major U.S. financial institutions.
The initiative will enable participating banks—including Citizens Financial Group, Fifth Third Bank, Huntington Bank, KeyBank, and M&T Bank—to issue, transfer, and settle digital money backed by regulated bank deposits.
Unlike cryptocurrencies or stablecoins, Project Keystone will operate using real bank-issued deposits in digital form, meaning transactions remain within the regulated banking system. The network is designed to ensure full settlement finality (transactions either complete fully or not at all), aiming to reduce inefficiencies and reconciliation delays in traditional interbank systems.
Strategically, the project reflects a push by banks to retain control over digital money infrastructure, rather than relying on third-party platforms, while modernizing payments and settlement processes.
Source: Business Wire
The initiative will enable participating banks—including Citizens Financial Group, Fifth Third Bank, Huntington Bank, KeyBank, and M&T Bank—to issue, transfer, and settle digital money backed by regulated bank deposits.
Unlike cryptocurrencies or stablecoins, Project Keystone will operate using real bank-issued deposits in digital form, meaning transactions remain within the regulated banking system. The network is designed to ensure full settlement finality (transactions either complete fully or not at all), aiming to reduce inefficiencies and reconciliation delays in traditional interbank systems.
Strategically, the project reflects a push by banks to retain control over digital money infrastructure, rather than relying on third-party platforms, while modernizing payments and settlement processes.
Source: Business Wire
