The Bank of Canada, alongside the nation's largest banks, has completed a significant trial for tokenized bonds. Dubbed Project Samara, the experiment tested the issuance, trading, and settlement of bonds utilizing digital Canadian dollars on a distributed ledger.
Export Development Canada issued a C$100 million security, with RBC Dominion Securities, RBC Investor Services Trust, and TD Securities involved in the process. The platform facilitated the entire bond lifecycle, from creation and bidding to coupon payments, redemptions, and secondary market trading.
The trial also incorporated tokenized wholesale Canadian dollars, managed by the Bank of Canada, enabling instant settlement on the same ledger as the bonds.
