Canada's 'Big Six' banks to launch interbank tokenized deposit initiative
60-second summary
Canada’s six largest banks are launching an interbank tokenized‑deposit platform, beginning with pilot tests that move digital commercial deposits between participating institutions before integrating with wider digital‑asset ecosystems; the initiative aims to streamline settlement, reduce costs and boost liquidity, signaling banks’ growing commitment to blockchain infrastructure and potentially accelerating broader adoption across the financial sector.
Initial testing will focus on moving digital commercial deposits across participating institutions before linking to broader digital asset ecosystems.