VersaBank pilots tokenized deposits on Algorand
Crypto.news says Canada’s banking regulator said tokenized deposits are legally equivalent to traditional bank deposits, clearing a path for federally regulated banks to launch blockchain-based deposit products.
TLDR
Canadian bank VersaBank is piloting tokenized deposits on Algorand, Crypto.news reports. The outlet links the pilot to a statement from Canada’s banking regulator that tokenized deposits are legally equivalent to traditional bank deposits. Crypto.news describes that position as clearing a path for federally regulated banks to launch blockchain-based deposit products.
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