FIS and Leading Financial Institutions to Build Their Own Digital Tokenized Money Network

Key Terms

tokenized technical

Tokenized means converting a real-world asset, like property, artwork, or stocks, into digital tokens stored on a computer network. This process makes it easier to buy, sell, or transfer small parts of the asset quickly and securely, much like dividing a property into many tiny pieces that can be traded individually. For investors, tokenization can increase access, liquidity, and flexibility in managing their investments.

regulated deposits financial

Regulated deposits are customer funds kept at banks or similar firms that are covered by government rules and often by public insurance, limiting how the money can be used and protecting some or all of it if the institution fails. For investors, they matter because the size and stability of these deposits affect a bank’s funding, liquidity and risk profile—think of them as a safe, rule-bound portion of a company’s cash flow that supports confidence and reduces surprise losses.

interbank settlement financial

Interbank settlement is the process by which banks exchange and finalize payments they owe each other, typically through a central clearing system or central bank account. Like neighbors settling a stack of IOUs at the end of the week, it converts promises into final money, restoring each bank's true cash position. Investors care because smooth, reliable settlement keeps markets liquid, limits payment risk, and helps maintain stable short-term interest rates.

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Key Facts:

• FIS and six U.S. banks will launch Project Keystone, a bank-owned and bank-administered network for digital money to be built on regulated deposits. The initiative will give participating banks direct control over how digital money is issued, transferred, and settled, without ceding that infrastructure to third parties.
• Participating banks include Citizens, Fifth Third, Huntington Bank, KeyBank, and M&T Bank - spanning national, regional, and trust institutions across the U.S.

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- FIS® (NYSE: FIS), a global leader in financial technology, today announced Project Keystone - a network for digital money to be designed and controlled by banks. Developed with six U.S. financial institutions, Project Keystone will enable participating banks to issue, transfer, and settle regulated deposits in digital form, on shared infrastructure they administer themselves.

Participating banks include Citizens, Fifth Third, Huntington Bank, KeyBank, and M&T Bank. This group represents different charter types and technology providers, reflecting the breadth of institutions for which Project Keystone is designed to operate.

The network will handle real bank deposits in digital form - meaning the money moving through Project Keystone will be regulated and bank-issued - not a new asset class. Transactions will either settle completely or not settle at all, eliminating the partial failures and reconciliation burdens that slow conventional interbank settlement today.

"Banks are the cornerstone of trust in the financial system, and they should define how digital money evolves," said Jim Johnson, Co-President of Banking Solutions at FIS. "The digital money space has no shortage of technology looking for adoption. What it has lacked is banks moving together with shared administration and infrastructure among financial institutions. Project Keystone brings together institutions of different sizes, charters, and core providers - because a network that doesn't work for all of them doesn't work."

Financial institutions interested in joining Project Keystone as founding members may contact Project.Keystone@fisglobal.com.

About FIS

FIS is a financial technology company providing solutions to financial institutions and businesses. We unlock financial technology to the world across the money lifecycle underpinning the world’s financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit FISglobal.com. Follow FIS on LinkedIn, Facebook and X.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260430729662/en/

Nicole Alley
Vice President
FIS Global Marketing and Communications
904.438.6278
Nicole.Alley@fisglobal.com

Lauren Pozmanter
US & Corporate PR Lead
FIS Global Marketing and Communications
631.827.7963
Lauren.Pozmanter@fisglobal.com

Source: Fidelity National Information Services