BMO Is First Bank to Join CME's Tokenized Cash Platform on Google Cloud

Bank of Montreal, which goes by BMO, is joining forces with derivatives marketplace CME Group and Google Cloud to launch a tokenized cash and deposit platform. This will make BMO the first bank to offer CME Group's tokenized cash solution on Google Cloud Universal Ledger (GCUL), the three companies said Tuesday in a joint press release. The collaboration will allow BMO's institutional clients to convert U.S. dollars into tokenized instruments around the clock, enabling real-time margin calls, collateral ...