Cari Taps ZKsync’s Prividium as US Banks’ Answer to Stablecoins
Carry Network, a permissioned network led by former US Comptroller of the Currency Gene Ludwig, has chosen Matter Labs' Prividium infrastructure to enable a bank-managed token network for US regional and mid-sized lenders.
The platform, built on top of ZKsync and anchored to Ethereum, is designed to allow participating banks to issue and move real-time transactions as bank liabilities on the ledger, according to a report shared with Cointelegraph on Tuesday.
The move comes at a time when lawmakers are challenging the role of banks as issuers of stablecoins in support of payments and deposits, such as the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.
Alex Gluchowski, CEO of ZKsync, told Cointelegraph that the financial infrastructure is being redesigned in real time, and it is medium-sized banks.
Regional banks require tokenized deposits to receive stable coin-type payments
Five US banks, Huntington Bankshares, First Horizon, M&T Bank, KeyCorp and Old National Bancorp, have been designing and testing the network since February, according to a Bloomberg report.
Related: Stablecoin Uncertainty May Hurt Banks More Than Crypto Companies: Expert
According to a release, the US Mid-Sized Bank Coalition supported the expanded model, saying depositing in integrated institutions is critical to small business lending and local economies.
Carry Tokens represent customer deposits in banks and are intended to remain in a permissioned environment governed by banking risk and compliance frameworks rather than being freely distributed in decentralized finance (DeFi).
Previdium aims for privacy, control and on-chain auditing.
According to ZKsync, Previdium acts as a shared ledger, allowing for quick reconciliation between verified partners while separating transaction records and balances from the personally identifiable information that remains in each bank's core system.
ZKsync's public network has struggled to maintain usage over the past year. Onchain data analyzed by Nansen shows that ZKsync recorded the steepest decline among major chains in 2025, with transactions down 90% as airdrop-driven activity cooled.
Related: Why Institutions Still Choose Ethereum Despite Faster Blockchains
At the same time, ZKsync has been steering its roadmap squarely toward the institutional use case that Curry represents. The 2026 plan focuses on privacy, robust controls and native interoperability for banks, enterprises and governments.
Gluchowski said the architecture was designed with U.S. banking privacy and regulatory considerations in mind, including data protection, auditor access and clear audit trails.
As some banks explore spending or partnering on stablecoins, Gluchowski argued that tokenized deposits are “complementary to stablecoins,” adding that ZKsync deposits are seen as payment tokens by banks when they want to withdraw and deposit funds into their private infrastructure.
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