Overview
- BMO announced a collaboration with CME Group and Google Cloud to deliver tokenized cash on a private, permissioned ledger for institutional clients.
- The tokenized cash lets clients turn U.S. dollars into a bank-issued digital token for real-time margin, collateral, and settlement at CME Clearing.
- BMO targets the second half of 2026 to launch an institutional settlement instrument, pending regulatory approval, advancing a bank-led rollout from last year’s CME–Google pilot.
- The bank also plans tokenized deposits, a digital form of traditional bank funds for B2B payments, treasury movements, and programmable cash across more clients.
- The service runs on Google Cloud Universal Ledger, which is designed to link tokenized assets with existing clearing systems and reduce funding gaps caused by banking-hour cutoffs.