大银行正在接管加密？摩根大通、纽约梅隆等布局代币化存款与托管

In 2017, Jaime Diamond called Bitcoin a fraud. He said it was worse than Tullet Mania. He said he'd fire any trade on his floor dumb enough to touch it. By 2021, he had cut it down to one word, worthless. [music] Now, let's take a look at 2026. JP Morgan has a live token running on Coinbase's blockchain. The bank just filed a money market fund straight onto public Ethereum, the exact technology he spent a decade calling a scam.

And they're building on it right now. So, here's the question I want you holding the entire way through this video. Did Jaime Diamond change his mind about crypto? Or did the banks finally realize they were about to lose and decide to capture the one thing they couldn't kill? Because what I'm about to show you isn't an option. It's a war, a quiet one, over who owns the rails of digital money for the next 50 [music] years.

And your savings are the price. By the end, you'll see the number Mckenzie ran that has every bank executive losing sleep. Why a Republican senator from the bank's own side called them a cartel. And why the one feature that could have set your money free was quietly made illegal last summer. In other words, everything they set in public was a distraction. What they were building in private, that's what this video is about.

I'm DC and you're watching the Coin Bureau. The first thing you need to understand is the distinction that banks are quietly weaponizing. And it sounds technical, but it's not. It's the entire game. There are two kinds of digital dollars fighting for your money right now. The first is a stable coin. Think USDC, think USDT. A stable coin lives outside the banking system. It's issued by a private company backed by reserves held separately.

And crucially, when you hold one, your money is no longer sitting inside a bank. The second kind is a tokenized deposit and this is what JP Morgan built. JPMD went live on Coinbase's base network on November 12th, 2025. But unlike stable coins, JPMD is a direct bank liability. It's a digital claim on a real dollar sitting inside JP Morgan. It's interest bearing. It's FDIC allegible. And most importantly, it stays inside the walls of the bank.

So here's what that actually means. The banks are cloning crypto. They're taking the technology, stripping out the part that lets your money leave, and rebuilding it inside the fortress, and the banks are moving fast. To understand why that is, you need to see the number that's keeping every bank executive awake at night. McKenzie ran the math. For every $1,000 that moves into a stable coin like USDC, banks lose roughly $850 in funding.

Think about what that means for the system. 85% of that money evaporates out of the banking system the moment it becomes a stable coin. And banks need those deposits. That's the raw material they lend against. The foundation of the entire fractional reserve machine. Pull out the deposits and the machine grinds to a halt. And this is already happening. Some analysts have projected a slow but steady drain of core deposits over the next several years as stable coins grow.

Estimates vary, but even a few percentage points draining over 5 years represents hundreds of billions leaving the system. It's a slow leak, but a leak in a dam is still how the dam eventually breaks. So, when JP Morgan tells you tokenized deposits are a superior alternative to stable coins, this is what they're actually saying. They are offering you a cage with a blockchain painted on the bars. And here's the part that should make you sit up.

This isn't a side project anymore. JP Morgan's blockchain arm, rebranded from Onyx to Kexus, has already processed over $1.5 trillion in cumulative volume. The bank is targeting $10 billion in transactions per day. But tokenized deposits are only the first move. Because while everyone's arguing about which digital dollar wins, the banks are quietly seizing something far more valuable, the vaults. Here's the core truth most people miss.

In any gold rush, the people who get rich are the ones selling the shovels and renting out the safe. And in crypto, that safe is called custody. Now, custody is just the unglamorous business of holding the asset, keeping it secure, making sure it doesn't get hacked or lost. It sounds like plumbing, but whoever owns the plumbing owns the building, and the banks know it. Now, before we go any further, if you want to follow this fight as it unfolds in real time, our Telegram channel is where we break all of this down daily.

The link's in the description and it's genuinely worth joining. Okay, let's take a look at BNY Melon. This is the oldest bank in America sitting on 59.4 trillion in assets under custody as of March 2026. A number so large it's hard to comprehend. So to put it in scale, that's more than the entire annual economic output of the United States, China, and Germany combined sitting in one institution's vaults. And on May 7th, 2026, BNY launched institutional crypto custody in Abu Dhabi.

Bitcoin and Ethereum first with the stable coins and tokenized real world assets. Next, the oldest bank in America planting a flag in the desert to hold the assets its peers called a fraud. Then there's Standard Charted. In 2020, Standard Charted helped create a crypto custody venture called Zodia. Just a little toe in the water, a way to dabble without actually committing. But on May 18th, 2026, they stopped dabbling.

They bought out the regulated custody business entirely and folded it directly into the core bank. No more arms length, no more experiment, in-house, full control. And 9 days later on May 27th, they became the first global systematically important bank on Earth to run an institutional crypto custody transaction in Hong Kong. The first, that word matters because in finance, the first mover writes the rules. everyone else has to follow.

And now to Morgan Stanley because they're playing the most aggressive game of all. In February 2026, they filed with regulators for a national trust charter. Now, in simple terms, this means that they want to move crypto custody, staking, and trading to a completely in-house solution, cutting out third party firms they currently rely on. And then they did something that tells you everything about their mindset. They launch crypto trading on E Trade at 50 basis points, half a percent.

Compare that to Charles Schwab at 75 basis points or Fidelity at around 100. So Morgan Stanley walked right in and undercut the competition on day one. And here's the crazy part. When they launched their Bitcoin ETF in April, they priced it at a.14% expense ratio, the lowest in the entire market at launch. This bank is entering at the bottom of a price war, trying to win on volume. And here's the part that reframes everything.

The banks aren't the only ones racing for these charters. Between December 2025 and March 2026, 11 firms filed for or won the same federal trust approvals. Circles, Ripple, Bitco. And on April 2nd, 2026, Coinbase itself got conditional approval. Think about what that means for a second. The crypto firm the banks are at war with just got handed the exact same federal blessing the banks have. Now, this is two armies racing for the same hill.

And whoever plants the flag first decides the rules of digital money for everyone behind them. Which brings us to the third front in this war, the money itself. Remember how I said banks were cloning crypto to keep your money inside? Tokenized deposits were move one. But some banks decided cloning wasn't enough. They wanted their own stable coins, too. And so on May 27th, 2026, SoFi crossed a line nobody had crossed before.

SoFi became the first US chartered bank to put a stable coin directly inside a consumer banking app. It's called SoFi USD and it's sitting in front of roughly 14.7 million members. So think about how different this actually is. This is a stable coin sitting right in a regular person's banking app next to their checking account. So even extended a partner

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