Browse all research or check out these related conferences.
Understanding the benefits and risks of digital currencies and electronic payments is important because new technologies and new players could affect the financial system. This in turn could influence how we work to fulfill our core functions. For this reason, we closely monitor fintech developments.
The Bank is conducting research related to a central bank digital currency (CBDC). This is part of its contingency planning to be ready to issue a CBDC in the future if the need were to arise.
Research by Bank staff is produced independently from the Bank’s Governing Council. It may therefore differ from official Bank views. The views expressed in research papers are solely those of the authors. No responsibility for them should be attributed to the Bank.
Latest research
Public and Private Money Creation for Distributed Ledgers: Stablecoins, Tokenized Deposits, or Central Bank Digital Currencies?
Staff Working Paper 2024-35
Jonathan Chiu,
Cyril Monnet
This paper explores the implications of introducing digital public and private monies (e.g. tokenized central bank digital currency [CBDC] or tokenized deposits) for stablecoins and illicit crypto transactions.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Digital currencies and fintech,
Financial stability,
Monetary policy
JEL Code(s):
E,
E5,
E50,
E58
Digital Payments: A Framework for Inclusive Design
Staff Discussion Paper 2024-15
Sebastian Hernandez,
Alexandra Sutton-Lalani,
John Miedema,
Virginie Cobigo,
Fatoumata Bah,
Munazza Tahir,
Danika Lévesque,
Badr Omrane
We propose a framework for designing cognitively accessible payment and banking interfaces through design guidelines, testing and proposed measures to optimize system learnability and user workload. We include, as a case study, the results of testing this framework with users with cognitive disabilities, using a prototype system for voice payments.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Accessibility,
Bank notes,
Central bank research,
Digital currencies and fintech,
Digitalization,
Financial services
Ecosystem Models for a Central Bank Digital Currency: Analysis Framework and Potential Models
Staff Discussion Paper 2024-13
Youming Liu,
Francisco Rivadeneyra,
Edona Reshidi,
Oleksandr Shcherbakov,
André Stenzel
This note analyzes different economic models of a central bank digital currency (CBDC) ecosystem where the central bank chooses different levels of market involvement and usage of policy levers. The analysis suggests that there are trade-offs between the costs to the central bank and its ability to achieve policy goals like universal access.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Central bank research,
Digital currencies and fintech,
Financial services
JEL Code(s):
E,
E5,
E58,
E6,
E61,
L,
L5
Latest conferences
November 19, 2015
Bank of Canada Conference held on November 19 and 20, 2015.
Electronic Money and Payments
Content Type(s):
Conferences and workshops
Topic(s):
Digital currencies and fintech
October 26, 2015
Bank of Canada Conference held on October 26, 2015.
Payments System Modernization: Opportunities & Challenges
Content Type(s):
Conferences and workshops
Topic(s):
Digital currencies and fintech