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Home›Crypto›Market Structure›Canada’s big six banks explore tokenized deposit system

Canada’s big six banks explore tokenized deposit system

The initial phase focuses on moving tokenized deposits efficiently across financial institutions, aiming to modernize payments.

Reported · Written up by our desk · Market Structure

Canada’s six largest banks are exploring a tokenized deposit system intended to modernize how payments work across institutions.

According to The Block, the banks say the first phase of the project centers on moving tokenized deposits efficiently between financial institutions.

The proposal is framed as a payments modernization effort, with the early work targeting deposit transfers before wider rollout.

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Sources

The BlockCanada’s big six banks explore tokenized deposit system to modernize payments

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