Bank of Montreal introduces tokenized cash and deposit platform

BMO (BMO), in collaboration with CME Group (CME) and Google Cloud (GOOG, GOOGL), announced plans to introduce new 24/7 tokenized cash capabilities that will allow institutional clients to move value more easily and securely using CME Group’s permissioned network on Google Cloud Universal Ledger. BMO is supporting its institutional clients by expanding use-cases for accessing tokenized cash through a bank-anchored, institutional framework that enables BMO clients to convert dollars into a tokenized instrument for use with margined products at CME Group. Key features of the new capabilities include: Tokenized cash: Available to mutual clients of CME Group and BMO, the bank plans to offer an institutional settlement instrument to regulated financial services firms operating in capital markets and the commercial banking space in the second half of 2026, pending regulatory approval. Tokenized deposits: This will allow BMO to offer traditional commercial bank funds in digital form, made available to a broader set of BMO clients to enable general-purpose B2B payments, treasury movements, and programmable cash applications. Always-on movement of value: BMO clients will be able to convert U.S. dollars into tokenized deposits and tokenized cash 24/7, allowing the bank to meet global market needs such as extended trading hours, more continuous operations and moving collateral without traditional cutoff constraints.