Regulation· ★★★· neutral·

Six Major Canadian Banks Advance Tokenized Deposit Initiative

  • —BMO, CIBC, National Bank, RBC, Scotiabank and TD are taking part in the CAD deposit initiative
  • —BMO, CIBC and Scotiabank joined the BIS Project Agorá after the September 22 announcement
  • —In July 2026 Project Agorá tests, settlement took roughly 80 seconds on average
  • —Scotiabank and TD are among 21 institutions forming a USD stablecoin issuer targeting H1 2027
Why it matters: Canada's largest banks are testing tokenized money settlement under OSFI oversight, potentially setting a standard for blockchain-based bank deposits.
Source: Blockchain.News
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