Canada’s Largest Banks Eye Shared Tokenized Deposit Network

TLDR Canada’s Big Six banks are exploring a shared interbank tokenized deposit system for faster money transfers. The first phase will test tokenized deposit movement between participating Canadian financial institutions. The system could support 24/7 programmable payments while keeping customer funds within regulated banks. Bank of Montreal, CIBC, National Bank, RBC, Scotiabank, and TD Bank [...]

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