Canada’s experiment with the digital dollar is over, at least for now. The Bank of Canada announced recently that after years of exploring the idea of a central bank digital currency (CBDC), it was moving on. “With this work completed, and with other payments issues gaining prominence,...
It’s a widely reported data point that 93% of central banks are in at least some stage of deploying — or at least exploring — central bank digital currencies (CBDCs). But a Thursday (Aug. 10) report from the Bank of Canada, the Canadian central bank, seems...
In today’s FinTech news, Tencent could be faced with spinning WeChat Pay into its payments subsidiary, while crypto exchange Binance looks to acquire a bank in Brazil in order to enter the market in the country. Plus, German FinTech Monite offers a one-stop-shop for automating...
The Bank of Canada is teaming up with the Massachusetts Institute of Technology (MIT) on a 12-month research project that’s focused on the design of a potential Central Bank Digital Currency (CBDC), according to a Cointelegraph report Thursday (March 17). Bank officials will work with...
March 30, 2018
Today’s average Canadian consumer is more cash-enthused than their average American counterpart. Canadians still make about 51 percent of their purchases in cash, according to data from the Bank of Canada – as opposed to Americans, who handle less than a third of their transactions in cash, according to the PYMNTS Global Cash Index. Canadians, by the […]
September 23, 2024
Canada’s experiment with the digital dollar is over, at least for now. The Bank of Canada announced recently that after years of exploring the idea of a central bank digital currency (CBDC), it was moving on. “With this work completed, and with other payments issues gaining prominence, the Bank is scaling down its work on a retail […]
March 18, 2022
The Bank of Canada is teaming up with the Massachusetts Institute of Technology (MIT) on a 12-month research project that’s focused on the design of a potential Central Bank Digital...
March 02, 2021
Following a selection process that included the Bank of Canada, Payments Canada will partner with Interac Corp. to serve as the exchange solution provider for the country’s Real-Time Rail (RTR)....
October 29, 2020
The Bank of Canada is progressing in its plans for a national digital currency, moving past proof of concepts to “executable” plans, according to Reuters. Bank Governor Tiff Macklem told...
