CME, BMO and Google Cloud to Launch 24/7 Tokenized Cash in H2 2026
Bank of Montreal will become the first bank to offer CME Group’s tokenized cash solution on Google Cloud Universal Ledger, enabling institutional clients to convert dollars into tokenized instruments 24/7 for real-time margin calls and settlement. BMO targets regulated financial firms in H2 2026 pending regulatory approval.
1. CME and BMO Partner on Tokenized Cash
CME Group has teamed with Bank of Montreal to launch a tokenized cash and deposit platform on Google Cloud Universal Ledger, making BMO the first depository bank to support CME’s tokenized cash solution on GCUL.
2. 24/7 Real-Time Settlement Capabilities
The platform lets BMO’s institutional clients convert U.S. dollars into tokenized instruments around the clock, enabling real-time margin calls, continuous collateral movements and instant settlement beyond traditional banking hours.
3. Rollout Timeline and Regulatory Approval
BMO plans to make the tokenized settlement instrument available to regulated financial services firms in the second half of 2026, subject to regulatory approvals for deposit tokenization on the GCUL network.
4. Strategic Context and Market Implications
This initiative builds on CME’s broader push into programmable distributed ledgers, including 24/7 cryptocurrency futures and options trading, and joins a wider industry trend toward bank-led tokenized deposits from firms like JPMorgan and Fidelity.