The Bank of Canada has successfully completed a pilot project issuing the country's first tokenized bond, marking a significant step in the use of distributed ledger technology in debt markets. The initiative, known as Project Samara, involved collaboration with Export Development Canada, Royal Bank of Canada, and TD Bank Group. The pilot issued a CAD 100 million bond with a maturity of less than three months to a select group of investors, utilizing wholesale central bank deposits for settlement instead of traditional commercial bank money. Built on Hyperledger Fabric, the platform integrated separate ledgers for cash and bonds, enabling near-instant settlement and comprehensive lifecycle management, including issuance, bidding, coupon payments, redemption, and secondary trading. The pilot demonstrated improved data integrity and operational efficiency, though it also highlighted governance and regulatory challenges that need addressing for broader adoption. This experiment aligns with global trends in exploring tokenized bonds, as seen in similar initiatives by the World Bank and Hong Kong Monetary Authority.