Cari announced its entry into the American Bankers Association’s (ABA) Premier Partner Network and added SouthState Bank as a Design Partner, bringing the Cari Network’s roster to more than 30 participating banks. The move signals a broader push to give regulated U.S. banks a compliant pathway for tokenized deposits and real‑time digital money settlement.
Cari Becomes an ABA Premier Partner
The Cari Network, a bank‑governed tokenized deposit system built on a permissioned Layer‑2 blockchain anchored to Ethereum, was accepted into the ABA’s Premier Partner Network. The designation is reserved for firms that demonstrate a “significant long‑term commitment to advancing the banking industry and delivering value to ABA member institutions.” Through the partnership, Cari will collaborate with the ABA to educate banks on tokenized deposits and digital‑money infrastructure.
Founder and CEO Gene Ludwig said the partnership aligns with Cari’s belief that “as money becomes increasingly digital, banks should continue to play the central role in issuing it, governing it, and serving the customers who rely on it.” ABA Executive Vice President Russell Davis added that the partnership will give members “opportunities to learn about emerging technologies and how they can support the future of banking.”
Expansion of the Cari Network’s Bank Membership
Cari disclosed that SouthState Bank has joined as a Design Partner Bank, joining Atlantic Union Bank, Bank of Vernon, ConnectOne Bank, FNBO (First National Bank of Omaha), Glacier Bank, MidFirst Bank, Raymond James Bank, Southwest Heritage Bank, and Washington Trust Bank as the newest members. The total count of participating banks now exceeds 30, with an additional 40 institutions in active discussions. Collectively, the network and pipeline represent more than $10 trillion in combined assets.
The company also confirmed a pilot launch with six design‑partner banks—First Horizon, Huntington, KeyBank, M&T Bank, Old National Bank, and SouthState Bank—targeting a production rollout later this year. SouthState’s Chief Strategy Officer Steve Young highlighted the bank’s role in supporting over 1,300 financial institutions nationwide and its intent to use the Cari Network for “real‑time settlement, liquidity management, and digital money movement.”
Technical and Operational Overview
The Cari Network operates on a permissioned, private blockchain that gives participating banks control over access, governance, and transaction activity. The platform enables instant, 24/7/365 issuance, transfer, and redemption of tokenized deposits while keeping the assets within the regulatory perimeter of chartered banks. By combining blockchain speed with traditional banking trust, Cari aims to provide an interoperable payment rail that can be adopted without leaving the existing compliance framework.
Ludwig emphasized that the network’s success depends on “industry collaboration, shared governance, and a commitment to ensuring innovation strengthens—not fragments—the banking ecosystem.” The company positions the network as a way for banks to retain deposits, strengthen customer relationships, and share in the network’s financial success.
Key Takeaways
- Cari joined the ABA’s Premier Partner Network, committing to work with the association on tokenized deposit education and infrastructure.
- The Cari Network now includes more than 30 banks, with an additional 40 institutions in active discussions, representing over $10 trillion in combined assets.
- A pilot with six design‑partner banks is slated for launch, with a production rollout planned for later this year.
FinanceInsyte's Take
Cari’s ABA partnership and expanding bank base suggest a growing appetite among regulated institutions for blockchain‑based settlement solutions that remain within existing compliance boundaries. While the network’s technical capabilities are clear, the pace of broader adoption will depend on how quickly banks move from pilot to production and how the ABA leverages the partnership to address regulatory concerns. Executives should monitor the upcoming production launch and any guidance the ABA issues on tokenized deposits.
Source: Businesswire
