BMO’s new tokenized-cash partnership with CME Group and Google Cloud suggests the next battle in finance is not just about stablecoins. It is about who builds bank-grade money for a market that no longer sleeps.
On March 24, BMO said it would work with CME Group and Google Cloud to launch tokenized cash capabilities that let institutional clients convert U.S. dollars into a tokenized instrument for use with margined products at CME. The bank also said the platform would lay the groundwork for tokenized deposits that could support broader B2B payments, treasury movements, and programmable cash applications,
