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Canada's Largest Banks Look to Develop Tokenized Deposits

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Canada's "Big-Six" banks are cooperating to develop a Canadian-dollar based digital-money solution, starting with tokenized deposits, the institutions said on Tuesday.

The first phase of the project will look at moving tokenized deposits efficiently across Canadian financial institutions, a statement added. It is expected that other deposit-taking institutions will be included in this project down the road.

"This project is exploring tokenized deposit solutions to drive responsible innovation and facilitate broad participation in the digital money ecosystem for the benefit of all Canadians. It seeks to deliver faster, more efficient and programmable payments to Canadian customers while preserving safety, stability, and effective regulatory oversight," the group said in a release.

They did not define tokenized deposits in their release,

The participants are Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CIBC), National Bank of Canada (NBC), Royal Bank of Canada (RBC), The Bank of Nova Scotia (Scotiabank), and TD Bank Group (TD).

Price: $243.87, Change: $-4.97, Percent Change: -2.00%

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Mining & Metals

Update: AtkinsRealis, Aecon, Secure Contracts with Ontario Power Generation

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Mining & Metals

Mark Carney's Government Introduces Bill C-39 to Speed Up Major Projects

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Mining & Metals

Elemental Royalty to Buy Orion Precious Metals Portfolio for $290 Million; CEO Resigns

Elemental Royalty (ELE.TO, ELE), up 1.2% in after-hours US trading, said Monday it entered into agreements to acquire a portfolio of five precious metals streams and royalties from funds managed by Orion Mine Finance Management for $290 million.The purchase price includes $200 million in cash and $90 million in equity, the company said.Separately, the company entered into a non-binding agreement with Carlin East to sell its Generation Business, which includes wholly owned exploration projects.Under the proposed transaction, Carlin East would also assume management and shared ownership of Elemental's option agreements and certain early-stage exploration royalties associated with the Generation Business.In return, Elemental would receive a cornerstone equity stake in Carlin East.Elemental also said chief executive David Cole resigned effective immediately to take a leadership role at Carlin East.Frederick Bell, currently Elemental's chief operating officer, was appointed chief executive officer and director.ELE's shares were up $0.27 to $21.99 at last look in after-hours US trading after closing up CA$0.66 to CA$30.45 on Toronto Stock Exchange

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