Canada’s largest banks are exploring the next phase of digital money. RBC, TD, Scotiabank, BMO, CIBC, and National Bank are working together on tokenized Canadian-dollar deposits for interbank settlement. Key focus areas: • Faster bank-to-bank transfers • Programmable settlement • Regulated digital deposits • Blockchain-based financial infrastructure Canada’s regulator has also confirmed that tokenized deposits carry the same legal status as traditional deposits. This marks another step toward financial institutions adopting tokenization within existing banking frameworks. The future of money may not be only about new currencies. It may be about upgrading how traditional deposits move.
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