Canada’s six largest banks have launched a joint tokenized deposits initiative to enable 24/7 blockchain-based payments. The participating institutions are Bank of Montreal, Royal Bank of Canada, Toronto-Dominion Bank, The Bank of Nova Scotia, National Bank of Canada, and Canadian Imperial Bank of Commerce. The collaborative project aims to modernize payment infrastructure by leveraging tokenization technology for continuous settlement capabilities. This unified effort among major Canadian financial institutions marks a significant step toward integrating blockchain solutions into mainstream banking operations.