Not about “how to get around encryption,” but about the six major Canadian banks working together on tokenized deposits.
The first-phase objective is very clear: enable more efficient transfer of tokenized deposits between financial institutions, while also lifting the payments infrastructure by one layer. For RWA, stablecoins, and on-chain payments, actions like this are more like traditional finance moving deposits, clearing, and programmable payments closer to the orbit of blockchain.
Source: The Block. The highlights are also straightforward: on one side, the banking system is beginning to try to connect to tokenized settlement; on the other, the market will first see whether capital continues to gather toward payment public chains and institutional-grade settlement. Which do you care more about—$ or $?
Figure 1: The six major Canadian banks explore tokenized deposits · Key news points
Image source: https://www.theblock.co/news/business/2026-09-23-canada-banks-tokenized-deposit-system-416129
The first-phase objective is very clear: enable more efficient transfer of tokenized deposits between financial institutions, while also lifting the payments infrastructure by one layer. For RWA, stablecoins, and on-chain payments, actions like this are more like traditional finance moving deposits, clearing, and programmable payments closer to the orbit of blockchain.
Source: The Block. The highlights are also straightforward: on one side, the banking system is beginning to try to connect to tokenized settlement; on the other, the market will first see whether capital continues to gather toward payment public chains and institutional-grade settlement. Which do you care more about—$ or $?
Figure 1: The six major Canadian banks explore tokenized deposits · Key news points
Image source: https://www.theblock.co/news/business/2026-09-23-canada-banks-tokenized-deposit-system-416129
