BMO Reveals XRP Holdings, Following National Bank of Canada

The Bank of Montreal has joined a growing list of Canadian financial institutions disclosing cryptocurrency holdings, revealing it holds XRP. The bank, commonly known as BMO, is one of the country's oldest lenders, with roots tracing to 1817.

The disclosure follows a similar announcement from the National Bank of Canada, making BMO the second major Canadian bank to reveal exposure to the digital asset. BMO operates as a multinational investment bank and financial services company headquartered in Montreal.

While the size of the position was not disclosed, the revelation adds to evidence that traditional financial players are increasingly engaging with digital assets. XRP, the token tied to Ripple's payment network, has been a focus of regulatory scrutiny in the past, but has gained traction among institutional investors.

For a bank with 209 years of history, the move reflects how far cryptocurrencies have come from their fringe origins. As more established lenders embrace digital assets, the line between conventional finance and the crypto ecosystem continues to blur.