Cosmos said: Bank tokenization is moving beyond pilot stage

Cosmos launches a partner network of 17 companies in preparation for the launch of Wells Fargo tokenized deposits in the fall of 2026

Cosmos Chief Commercial Officer Eran Barak revealed to crypto.news that Cosmos has officially launched a partner network of 17 qualified providers. The network is designed to help banks move tokenization projects from the pilot phase to the production environment without having to search for service providers on the open market. The move also lays the foundation for Wells Fargo's tokenized deposit project planned to launch in the fall of 2026.

Build a qualified ecosystem rather than a pre-integrated market

Barak emphasized that the Cosmos Tokenization Suite Partner Network is a screened qualified ecosystem rather than a pre-wired integrated market where all participants operate under a single technology and commercial agreement. Financial institutions must select providers based on their own needs, negotiate contracts separately, and clarify the division of responsibilities among all parties.

"The Cosmos Tokenization Suite Partner Network is a qualified ecosystem rather than a pre-integrated integrated market," Barak said.

Currently, the network covers key functions such as hosting, compliance, security, infrastructure and system integration. Participating companies include BitGo, Blockchain.com, Blockdaemon, Galaxy Digital, OpenZeppelin, DFNS and Hypernative. Other members include Anseta, Balance, BCW Group, Coinbax, InfStones, Peersyst Technology, Silence Laboratories, Ubyx, Utila and Zeeve. Together, these companies provide services such as custody, settlement, transactions, transaction screening, wallet control, smart contract security and blockchain infrastructure.

Eliminate the burden of supplier searching and preserve independent contractual relationships

Despite the convenience provided by the network, financial partnerships will still exist between each financial institution and its chosen provider. A bank's regulatory environment, existing technology and current supplier relationships will influence its employment decisions. "The network removes the burden of discovery and certification-that part of the job is done," Barak pointed out.

This means that banks evaluating tokenized deposits can move into the implementation phase faster because providers in the ecosystem are pre-vetted rather than from the open market. However, banks still need to manage contracts and allocation of responsibilities themselves. For example, a bank may retain an existing custody provider while selecting another company in the network to be responsible for compliance screening or node operations. Each provider is only responsible for the services covered by its agreement.

Wells Fargo will take the lead in conducting cross-border pilot in the fall of 2026

According to Barak, the model will pass Wells Fargo's first named production test. The U.S. bank is using Cosmos's digital ledger technology to tokenize customers 'deposits and plans to launch cross-border use cases first in the fall of 2026. It is expected that through 2027, this implementation will add more customers, countries, currencies and use cases. The release will put regulated U.S. financial institutions at the heart of Cosmos's efforts to push tokenized deposits beyond limited trials.

Recent institutional discussions have also focused on measuring adoption rates through active financial products rather than just market activity. Some financial technology executives believe that collateral can provide a clearer measure of bank adoption than cryptocurrency transaction volume.

IBC protocol connects independent bank ledgers

Barak pointed out that unless institutions use compatible infrastructure and operating rules, tokenized deposits issued by different banks may be scattered across different networks. To this end, Cosmos plans to solve this technical problem through the Internet Communication Protocol (IBC). The open protocol allows assets to be moved directly between digital ledgers without relying on a central intermediary.

"Banks using IBC send assets directly to each other through self-custody infrastructure, similar to the way the Internet routes packets," Barak explained. IBC has been running in production for more than five years and is currently connected to public and licensed networks. Supported systems include Cosms-based networks, Besu Chain, Ethereum and Solana. It is expected that other networks such as Canton, Cori, and Parriot will be added in the second half of 2026.

However, Barak acknowledged that while the IBC provides a transport layer between ledgers, technical connectivity does not resolve differences in compliance rules, liquidity practices or settlement finality. "This technology alone cannot solve the fragmentation problem. Compliance standards, liquidity practices and settlement finality also require industry-level coordination." Regulators and standard-setting bodies still need to establish common rules for the institutions and assets that use these connections.

Assessing partner network effectiveness based on production metrics

Barak said Cosmos will evaluate partner networks by measuring the speed at which banks progress from signing agreements to achieving real-time transactions. The company will also track the number of institutional users operating in the production environment and transaction volume over time. Although Barak did not provide specific numerical targets or a timetable for the first release of results, Wells Fargo's first cross-border implementation in the fall of 2026 will be a key milestone.