Canada’s six largest banks explore tokenized Canadian dollar deposits

This is a notable signal that tokenized deposits are moving from pilot curiosity toward mainstream bank infrastructure, especially with all six major institutions coordinating rather than competing on separate rails. The timing matters: regulatory clarity appears to have unlocked exploration that banks were previously unwilling to pursue at scale. The key question is whether this remains a study or advances to production settlement, and whether the shared approach becomes a template for other jurisdictions watching how commercial-bank digital money is governed.