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Story summary
- Bank of Montreal (BMO) plans to launch tokenized cash services for institutional clients in the second half of 2026, in collaboration with CME Group and Google Cloud.
- Derek Vernon, BMO's head of North American treasury, said clients can convert US dollars into tokens for collateral on CME margined products.
- The tokens enable near-instant settlement and continuous funds movement, addressing limitations of traditional banking hours.
- The launch is pending regulatory approval.
