PANews reported on March 24th, citing Bloomberg , that Bank of Montreal plans to offer tokenized cash services and deposits to institutional clients through thePANews reported on March 24th, citing Bloomberg , that Bank of Montreal plans to offer tokenized cash services and deposits to institutional clients through the
CME Group and Bank of Montreal launch institutional "tokenized cash" settlement service
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PANews reported on March 24th, citing Bloomberg , that Bank of Montreal plans to offer tokenized cash services and deposits to institutional clients through the CME Group network, enabling continuous fund transfers outside of banking hours. The service is slated for launch in the second half of this year, pending regulatory approval. At that time, regulated financial institutions and commercial banks that are clients of both BMO and CME will be able to utilize the service for 24/7 processing of trade settlements, margin calls, and collateral transfers. Previously, CME had tested Google Cloud blockchain technology to enhance market infrastructure and support 24/7 trading.
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