Stablecoins
Supervising stablecoin issuers to support safe and reliable digital payments
We administer Canada’s framework for fiat-backed stablecoins and supervise stablecoin issuers.
Our responsibilities
Under the Stablecoin Act, we will regulate non-financial institutions that issue stablecoins to Canadians. Our role will be to:
- register stablecoin issuers
- supervise compliance with regulatory requirements
- monitor and mitigate risks related to issuance and redemption
- take enforcement action when obligations are not met
Our supervision will focus on ensuring stablecoins are fully backed by high-quality liquid assets, redeemable at par value, and issued in a way that protects users and the financial system.
Supervising stablecoin issuers at the Bank:
- builds on existing payments oversight expertise
- promotes consistency across federal payments frameworks
- supports safe innovation while protecting consumers and financial stability
The Department of Finance Canada is leading the development of regulations with support from the Bank.
Stay informed
February 27, 2026
Bank of Canada issues revised compliance order to XTM Inc.
February 17, 2026
Bank of Canada issues immediate compliance order to XTM Inc.
December 23, 2025