Six major Canadian banks are studying tokenized deposits for interbank payments in Canadian dollars.

These are Bank of Montreal, CIBC, National Bank of Canada, Royal Bank of Canada, Scotiabank, and TD Bank Group. Other deposit-taking institutions may join the initiative later. This month, Canadian regulators said that tokenized deposits are not legally different from traditional ones.

Raiffeisen is also expanding the use of digital assets. Through the Austrian crypto exchange Bitpanda, it will provide access to cryptocurrencies for 18 million of its customers. According to Visa, when protected at the banking level, 56% of Americans intend to use stablecoins.