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Travis Hill, an official with the US Federal Deposit Insurance Commission (FDIC), announced that the regulator is actively working to create a system to protect tokenized deposits and is developing regulatory rules for stablecoin issuers. At a fintech conference at the Philadelphia Federal Reserve Bank, he emphasized that moving a deposit to a blockchain environment does not change its legal nature, as the bank's obligations to the client remain unchanged, regardless of the financial accounting format.
Deposits and Risks
The FDIC traditionally insures bank accounts and compensates depositors for losses in the event of financial institution bankruptcy. The agency is currently exploring how these mechanisms can be adapted for digital deposits stored on distributed ledgers. Hill noted that specialists are working on recommendations that will define a possible insurance model for tokenized deposits and are studying the associated risks.
Growing Interest in Asset Tokenization
Interest in asset tokenization has grown significantly in recent years. According to RedStone, the volume of tokenized real-world assets, excluding stablecoins, exceeded $24 billion in the first half of the year. The most widespread are private loans and US Treasury bonds, which are being digitized to speed up transactions and improve overall transparency.
One of the most active participants in this area was BlackRock, which launched a tokenized money market fund, BUIDL, in 2024. The project immediately attracted industry attention and became a shining example of the integration of blockchain technology into traditional financial instruments.
Regulatory Framework for Stablecoins
In parallel with developing guidelines for tokenized deposits, the FDIC is developing a regulatory framework for stablecoins. According to Law360, by the end of 2025, the agency plans to submit a proposal for filing regulations for entities issuing stablecoins under the supervision of the GENIUS Act. Requirements for authorized capital, reserves, and risk management for such organizations are currently being developed.
Thus, the FDIC aims to ensure depositor protection and adapt existing insurance mechanisms to new conditions associated with the development of digital assets and blockchain technologies.
