Bank of Montreal has partnered with CME Group and Google Cloud to launch a tokenised cash platform, becoming the first bank to adopt the system on Google Cloud Universal Ledger.
The platform allows institutional clients to convert US dollars into tokenised instruments for real-time margin, collateral, and settlement movements without traditional banking hour constraints.
“Clients will be able to move funds continuously when markets demand it, not when banking hours allow it,”
Said BMO’s head of North American treasury and payment solutions, Derek Vernon.
The solution is expected to go live for regulated financial institutions in the second half of 2026, subject to regulatory approval, as demand grows for always-on financial infrastructure.
The initiative builds on CME Group’s broader push into 24/7 trading, including plans to offer round-the-clock crypto futures and options, increasing the need for continuous collateral systems.
Google Cloud’s Universal Ledger underpins the platform with programmable infrastructure tailored for wholesale payments and tokenisation, differentiating it from traditional blockchain frameworks.
BMO said it also plans to expand into tokenised deposits for business payments and treasury operations, aligning with a broader institutional shift toward programmable and real-time finance.