FDIC insurance for tokenized deposits.

On June 9, three US banking groups filed a comment letter urging the FDIC to confirm in binding rule text that tokenized deposits carry the same federal insurance as ordinary ones. The regulator's draft rule already says the definition of a deposit is technology neutral.

A tokenized deposit is a bank deposit recorded on a blockchain instead of only in the bank's internal ledger. FDIC insurance is the government guarantee that returns your money, up to $250,000, if the bank fails. The question was whether that guarantee still applies once the deposit moves on-chain.

This is the line between a tokenized deposit and a stablecoin. A stablecoin is a claim on a private issuer's reserves. A tokenized deposit is the bank's own liability, now with the same insurance standing behind it.

The token changes how a deposit moves, not what backs it.