The Bank of Canada’s research revealed mixed views on the digital Canadian dollar and highlighted Canadians’ enduring trust in cash and card payments.
Canadian consumers showed skepticism toward the widespread early adoption of the Bank of Canada’s (BOC) concept of a digital dollar.
The Canadian central bank recently conducted research to identify consumers’ changes in preferences for payments, ultimately aimed at preparing itself for the development of an in-house central bank digital currency (CBDC).
The BOC’s research paper released on Oct. 28 reaffirmed Canadians’ long-standing affinity toward traditional, fiat-based payment systems amid growing support for the issuance of a digital Canadian dollar.
