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Canadian banks outline first phase of tokenized deposit project

The exploratory effort would start by shifting deposits among participating institutions before expanding further.

Reported · Written up by our desk · Market Structure

The Defiant reports that several Canadian banks have laid out the first phase of an exploratory tokenized deposit project.

According to the outlet, the initial step would focus on moving deposits between participating institutions.

The source also notes that a US counterpart has already identified its operator and the payment rails, but details on the Canadian program beyond the first phase were not provided in the available material.

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