title: US-MT — Product Innovation & Market Development (W9) | World Payments Monitor canonical: https://payments.gi/jurisdictions/united-states-montana/w9/ ### W9 Product Innovation & Market Development Probable re-verified 2026-10-18 · changed 2026-07-05 Montana's product-innovation frontier centers on SB265's network-token framework and the Blockchain and Digital Innovation Task Force, layered on FedNow adoption. Standing sub-brief · as of 5 July 2026 111 words · last cycle 2026-07-05 #### Product Innovation & Market Development Montana's product-innovation frontier is currently defined by two converging developments: the 2025 network-token regulatory framework under SB265, together with the newly formed Blockchain and Digital Innovation Task Force, and growing FedNow instant-payments adoption among the state's banks and credit unions. Together these represent the two active vectors of product-level change in the state's payments landscape - crypto/token market structure on one hand, instant account-to-account settlement rails on the other - with no other distinct state-level product-innovation initiative identified this cycle. #### Outlook The FedNow adoption trajectory and the SB265 Task Force's implementation work are the two threads most likely to generate product-relevant developments in the coming cycles. no periodic updates on record for this sub-brief ** Sources and findings (4 unique sources · R-3/R-4)** 1. [W9-E1] T2 Derived: Confirmed [in_force https://dailymontanan.com/2025/04/03/legislators-propose-bills-to-back-data-centers-legislate-blockchain-technology/](https://dailymontanan.com/2025/04/03/legislators-propose-bills-to-back-data-centers-legislate-blockchain-technology/) re-verified 2026-07-05 SB 265 was introduced to affect 'network tokens,' used in payments as an alternative to a payment card number, and would formally regulate businesses using blockchain technology for payment purposes in Montana. 2. [W9-E2] T1 Derived: Confirmed [in_force https://www.frbservices.org/financial-services/fednow/about.html](https://www.frbservices.org/financial-services/fednow/about.html) re-verified 2026-07-05 The FedNow Service is an instant payment infrastructure allowing eligible depository institutions of different sizes across the US, including Montana community banks, to provide instant payment services with full and immediate access to funds for recipients. 3. [W9-E3] T2 Derived: Confirmed [in_force https://www.kpax.com/news/montana-news/montana-moves-forward-on-regulatory-framework-for-blockchain-digital-assets](https://www.kpax.com/news/montana-news/montana-moves-forward-on-regulatory-framework-for-blockchain-digital-assets) re-verified 2026-07-05 Task force co-chair Senator Gayle Lammers described blockchain applications extending far beyond cryptocurrency and financial services into agriculture, fraud prevention, chain-of-custody tracking and record keeping, signaling a broader Montana product-innovation agenda around distributed-ledger technology. 4. [W9-E4] T3 Derived: Probable [in_force https://www.montanasmarketplace.com/montana-living/crypto-in-montana](https://www.montanasmarketplace.com/montana-living/crypto-in-montana) re-verified 2026-07-05 Surveys suggest 5-10% of Montanans own crypto, higher than many rural states, with growth concentrated in tech-savvy communities in Bozeman and Missoula, and laws allowing crypto use for retail payments supporting steady merchant-side adoption.