Montreal Bank Plans to Partner with CME to Offer Institutional Customers Tokenized Cash and Deposit Services

March 24 (Bloomberg) — Bank of Montreal plans to offer institutional clients tokenized cash services and deposit facilities, enabling them to mobilize funds more conveniently on demand. The Canadian lender will launch the service via the network of CME Group, the largest U.S. derivatives exchange. Derek Fountain, the bank’s North American head of Treasury and Payment Solutions, said in a Tuesday statement: “Customers will be able to move funds as needed when markets demand it, no longer restricted to bank business hours.” ### Notes on adjustments (aligned with U.S. English habits): 1. **Institutional accuracy**: Corrected "Montreal Bank of Canada" to *Bank of Montreal* (the bank’s official U.S.-recognized name, often shortened to BMO). 2. **Conciseness**: Replaced wordy phrases (e.g., "allowing them to more conveniently mobilize funds at any time" → "enabling them to mobilize funds more conveniently on demand") to fit U.S. financial news brevity. 3. **Tone consistency**: Used "lender" (common in U.S. finance for banks) instead of repeating "bank"; adjusted "no longer limited to" to "no longer restricted to" for natural flow in American English. 4. **Structure**: Led with the news source (Bloomberg) upfront, a standard practice in U.S. financial briefs.