Stablecoins could change the economy, but Canada won鈥檛 be minting digital currencies anytime soon

Stablecoins are a form of digital currency whose value is tied to a physical currency, such as the US dollar or Euro. Stablecoins can be easily moved between countries, avoiding costly banking fees. But whether they will be widely adopted or not is still an open question. The Bank of Canada looked into the possibility of producing a stablecoin, but quietly dropped the project. "Canada, in general, is quite a fintech-friendly country, but it's also cautious," said Katrin Tinn, an Associate Professor of Finance at 黑料不打烊 Desautels. "When it comes to the discussions around central bank digital currencies, it was among the very first central banks to explore it and investigate it."