What is a Canadian CBDC?

A CBDC is a digital currency issued by a country’s official central bank. In Canada, a CBDC would be issued by the Bank of Canada. A Canadian CBDC would be a digital version of Canadian paper notes and coins. It would provide the same value and benefits as cash. Is a central bank digital currency the same as cryptocurrency?

What is central bank digital currency (CBDC) in Canada?

In Canada, central bank digital currency (CBDC) will be a digital version of traditional currency issued by the Bank of Canada. While the CBDC is still in the exploratory stage, it’s worth understanding how the CBDC in Canada will likely redefine our relationship with money. What is CBDC Canada?

How will the bank of Canada implement the CBDC?

The Bank of Canada is considering how to implement CBDC. In Canada, central bank digital currency (CBDC) will be a digital version of traditional currency issued by the Bank of Canada. While the CBDC is still in the exploratory stage, it’s worth understanding how the CBDC in Canada will likely redefine our relationship with money.

What is a wholesale CBDC?

Wholesale CBDCs would be used by financial institutions. Banks and other financial institutions could use a central bank's CBDC to transfer funds and settle transactions more quickly. While this type of CBDC would improve efficiency for domestic payments, it could also be very useful for cross-border payments.