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A Central Bank Digital Currency (CBDC) is “a digital form of central bank money that is different from balances in traditional reserve or settlement accounts” (CPMI-MC (2018)).


A CBDC is virtual money backed and issued by a central bank and would constitute an alternative to cryptocurrencies and stablecoins.


Central banks around the world, including the BoC have taken increased interest in CBDC for various reasons including improving financial inclusion and payment efficiency.


Payments Canada offers an educational series on CBDC that explores the global, economic and social implications of a CBDC issuance in Canada as well as the potential impact on the payments industry.


The series also outlines the differences between CBDC, cryptocurrency and conventional bank notes.


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