{
  "id": 9219535,
  "title": "Canadian banks join forces on tokenised deposits",
  "url": "https://urgent.news/2026/09/22/canadian-banks-join-forces-on-tokenised-deposits",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T23:26:40.000Z",
  "source": {
    "name": "Finextra",
    "slug": "finextra",
    "url": "https://www.finextra.com/newsarticle/48456/canadian-banks-join-forces-on-tokenised-deposits"
  },
  "original_language": "en",
  "account": null,
  "summary": "Canada's largest banks are collaborating on a system for tokenized Canadian dollar deposits. The participating banks include Bank of Montreal, CIBC, National Bank of Canada, Royal Bank of Canada, Scotiabank, and TD Bank Group.\n\nThis initiative aims to enable digital representations of bank deposits to be transferred between financial institutions, potentially leading to faster and more efficient programmable payments. According to Finextra, the goal is to deliver faster, more efficient programmable payments.\n\nThe project is set to begin with a focus on moving tokenized deposits between Canadian financial institutions, with the possibility of connecting with other digital asset systems in the future. The Office of the Superintendent of Financial Institutions (OSFI) recently clarified that tokenized deposits are not legally distinct from traditional deposits, and are considered a liability of the bank, as reported by Cointelegraph.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}