Six leading banks in Canada—Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, The Bank of Nova Scotia, and TD Bank Group—are exploring a system for tokenized deposits in Canadian dollars as part of Project Samara. The initiative aims to modernize the nation's payment infrastructure, enhancing its competitiveness and security. In the initial phase of the project, the banks intend to streamline and expedite the transfer of tokenized deposits among financial institutions.