[cygnusv]

Adding an Enterprise Use Case

Use Case Name: Private Tokenized Deposits (use-cases/private-tokenized-deposits.md)

Industry: Banking and payments

Problem:

Banks represent customer deposits as tokens on a shared ledger, so their customers can pay each other, and customers of other banks, with on-ledger settlement. The deposit stays a liability of the issuing bank, booked in its core banking system. The map mentioned tokenized deposits only in a note in Private Stablecoins; this adds a dedicated entry.

The entry covers three problems:

• Payment privacy on a ledger shared by competing banks
• Transfers between banks, including the interbank settlement leg in central bank money
• Keeping the ledger and the core banking system in step: hold before mint, burn before release, and proving that ledger supply matches the booked liability

Additional Context cites the GENIUS Act and MiCA exclusions for deposits, JPMD on Base, the Swift tokenized-deposit pilot, BIS Project Agorá, and Gateway.fm's tokenized deposit demonstration on Miden.

Privacy Requirements:

Banks sharing the ledger are often competitors. Amounts, balances, counterparties and the payment graph stay hidden from other banks and the public, while the issuing bank, supervisors and auditors keep the access they have today.

Stakeholders:

Issuing and receiving banks, depositors (corporate and retail), the ledger operator, the interbank settlement provider, supervisors and auditors.

Checklist

• I've used the use case template format (use-cases/_template.md)
• This use case isn't already covered
• Represents a real enterprise need
• Privacy requirements are clear
• I can provide more details if needed

Additional Notes

Also in this PR:

• Private Stablecoins: the tokenized-deposits note links to the new entry
• Private Payments approach: the new entry is added to related_use_cases
• Payments domain: the new entry is listed under primary use cases
• GLOSSARY.md: adds RTGS
• CHANGELOG: new entry (PR link to follow)

[oskarth]

Checked the sources against each claim (GENIUS 2(22)(B)(ii), MiCA 2(4)(b), JPMD, Swift pilot, Agorá RVT, Gateway case study). All hold up. Two small things before merge: the file says status: ready while the PR body says draft until review (ready is fine with this approval), and the CHANGELOG line still needs its (#214) link.