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 focuses on ensuring that 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 by the Bank of Canada:
- 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.