Tiff Macklem said Canada's digital dollar initiative is progressing past the experimental phase and that the G7 needs to coordinate on digital currencies.
The move comes as the central bank continues to research how a central bank digital currency would work as well as the possible risks.
The Bank of Canada is preparing to design its own central bank digital currency (CDBC), detailing its plans in a new job posting.
The Bank of Canada does not see the need to create a central bank digital currency unless a competitor – like Libra – starts dethroning the existing fiat.
Central bank digital currencies have been a hot topic in blockchain circles recently, but central banks are lukewarm about blockchains.
The working group will pool research into CBDCs.
The central banks of Canada and Singapore have for the first time settled cross-border payments using blockchain and central bank digital currencies.
Central bank-issued cryptocurrency could bring economic welfare gains for Canada and the U.S., according to a researcher from Canada's central bank.
The results of a nationwide bitcoin survey conducted December by the Bank of Canada are now in.
The latest "Project Jasper" tests have shown that distributed ledgers are effective at automating securities settlements in real-time.
JPMorgan Chase has partnered with National Bank of Canada and others to trial a blockchain platform aimed to improve the debt issuance process.
Developed and developing economies would see different benefits if their central banks issued a cryptocurrency.
Canada's central bank is gearing up for the next phase of its "Project Jasper" blockchain research initiative, according to a new announcement.
Bank of Canada and R3 have concluded that their Project Jasper initiative could provide a basis for building cash-based settlements systems in future.
Canada's central bank likely won't launch a wholesale payment system based solely on distributed ledger tech.