The neutral settlement layer for Canadian tokenized assets.
We make a transfer final and legal across two institutions by moving the title, the cash, and the rules together in one settlement. We issue the record of title and connect to a bank-issued tokenized deposit for the cash leg. We are not a bank, a custodian, or a stablecoin issuer.
A single tokenized transfer is a feature. Owning the layer where every Canadian institution settles is a position. Tokenized real-world assets are forming as a market category in Canada right now, and the infrastructure forms once. Whoever operates the neutral settlement layer sets the standard for the next two decades.
The Canadian Securities Administrators launched a national tokenization workstream, inviting industry to build inside the perimeter with the regulators, not around them.
CIRO published the Digital Asset Custody Framework, the permission structure for regulated custody of tokenized assets in Canada. The custody question now has a published reference standard.
The Bank of Canada settled a C$100M tokenized bond against wholesale central-bank money (W-CAD) with RBC, TD, and EDC. OSC, AMF, and CIRO participated in the pilot. Settlement finality for tokenized assets, in production, in Canada (directional support; 4orm is not affiliated with the Bank of Canada or the Samara consortium).
BMO announced tokenized cash and deposit infrastructure built with CME and Google Cloud. International tokenized-settlement systems have processed more than $1.5T cumulatively (third-party industry reports). The category is forming; the operator question is open.
The pattern in Canadian market infrastructure is always the same: validate, permit, build. Samara provided directional support. CIRO and the CSA opened the permission structure. The build window is open right now, and it will not stay empty. The only question is whether the operator that fills it is Canadian-owned, regulator-aligned, and institution-grade, or whether Canada imports its settlement layer the way it imported its cloud.
When a tokenized asset moves from one institution to another and is final and legal, three things travel with it. 4orm makes all three move together.
4orm operates the ledger of record and the token registry, so ownership changes hands cleanly and is recognized.
The cash side is a tokenized bank deposit, issued and held by a regulated Canadian bank as the bank's own liability. 4orm connects to it; 4orm does not issue it.
4orm takes no deposits, touches no CDIC funds, and needs no banking or trust licence. The deposit token is the bank's liability, issued under the bank's own banking authorizations.
A transfer that should not happen cannot complete. The rules are part of the settlement, not a check after the fact.
When all three settle together, the transfer is final the moment it commits. That is the product.
Software and the authoritative record of title for tokenized assets. The settlement layer that makes a transfer final and legal across two institutions. The connector to a tokenized bank deposit that provides the cash leg. A neutral, independently governed Canadian entity no single bank owns.
Not a bank, and does not carry on banking or take deposits (Bank Act). Not a custodian of customer assets (custody sits under a separate regulated custody function). Not a stablecoin issuer (the deposit token is the bank's liability). Not the AML officer of record (the regulated institutions remain responsible for their obligations).
Issuance, trading, settlement, custody, reporting, supervision. Each pillar is engineered for one outcome: title and cash settle together, every time, for every asset class. See the platform in detail →
Native infrastructure for tokenizing real-world assets. Smart contracts, on-chain registry, legal-economic binding, full audit trail. Bonds, deposits, real estate, private credit, energy royalties, precious metals.
Pillar 02 is being built as 4ormEx, the planned regulated trading layer (subject to CIRO marketplace authorization). Order book, RFQ, secondary liquidity, multi-bank settlement corridors, all designed to operate under CIRO marketplace oversight (subject to required authorization). No bridges, no multi-day windows.
Title and cash leg settle in the same step, or neither settles. Replaces multi-day deferred-net cycles with one supervised settlement. Removes the multi-day gap where one side has paid and the other has not yet delivered.
the platform's regulated custody function (subject to CIRO Digital Asset Custody Framework alignment and OSFI letters patent or provincial trust authorization) is intended to operate as a qualified digital custodian. Custody is structured as a separate entity from the marketplace and dealer functions, a deliberate structuring choice consistent with separating custody from dealing.
OSFI, CSA, FINTRAC, and CIRO reporting embedded at the settlement layer. No bolt-on. No post-hoc reconciliation. Reporting is what falls out of the ledger, not what your team builds after the fact.
Real-time supervisory feeds for the regulators that approve the settlement layer. Pre-trade screens, post-trade attestation, AML rule engines, KYC reusable credentials. Supervision lives with the platform.
Issued by 4orm Finance Developed by KCS Capital, an independent firm.
Most tokenization companies are building tokenized assets. 4orm Finance is building the institutional infrastructure layer that allows Canada to safely operate tokenized finance at scale.
On March 6, 2026 the Bank of Canada completed Project Samara, settling a tokenized bond against wholesale central-bank money (W-CAD) with RBC, TD, and Export Development Canada. Full lifecycle: issuance, bidding, coupon payments, secondary trading, redemption. OSC, AMF, and CIRO participated in the pilot. Samara settled against central-bank money, not a commercial-bank deposit token; 4orm's model uses a tokenized commercial-bank deposit as the cash leg. Samara is directional support that settlement finality for tokenized assets works in Canada. (Bank of Canada Staff Analytical Paper 2026-8. 4orm is not affiliated with the Bank of Canada or the Samara consortium.)
Mar 6, 2026. Full lifecycle settled on a dual cash + bond ledger.
Two Tier-1 Canadian banks and a Crown corporation participated in the trial that settled a tokenized bond in wholesale central-bank money, directional support only. 4orm is not affiliated with the Bank of Canada or the Samara consortium.
Three Canadian securities regulators participated in the Bank of Canada Samara pilot.
Project Samara established the architectural patterns 4orm Finance builds against. 4orm is not in operational production with Tier-1 banks; it is building the settlement layer to that standard.
The Bank of Canada has proven the architecture in principle. CIRO has published the custody framework. What Canada does not yet have is a neutral settlement layer that makes transfers final across institutions. (Market sizing: $350M to $1.9B estimated annual Canadian fee pools as the market forms; 4orm estimate, derived from McKinsey base case. See the data room.)