Browse all research or check out these related conferences.
Understanding the benefits and risks of digital currencies and electronic payments is important because new technologies and new players could affect the financial system. This in turn could influence how we work to fulfill our core functions. For this reason, we closely monitor fintech developments.
The Bank is conducting research related to a central bank digital currency (CBDC). This is part of its contingency planning to be ready to issue a CBDC in the future if the need were to arise.
Research by Bank staff is produced independently from the Bank’s Governing Council. It may therefore differ from official Bank views. The views expressed in research papers are solely those of the authors. No responsibility for them should be attributed to the Bank.
Latest research
The Ecology of Automated Market Makers
Staff Discussion Paper 2024-12
Annetta Ho,
Cosmin Cazan,
Andrew Schrumm
This paper describes the ecology of automated market makers, which are the most popular decentralized exchange model for the pricing and trading of crypto assets within decentralized finance.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Digital currencies and fintech,
Financial markets,
Financial stability,
Financial system regulation and policies
JEL Code(s):
G,
G1,
G2
The Role of Public Money in the Digital Age
Staff Discussion Paper 2024-11
Francisco Rivadeneyra,
Scott Hendry,
Alejandro García
A well-functioning monetary system is characterized by public and private forms of money that exchange at par as value flows freely between them. A relevant retail public money—whether in the form of cash, a central bank digital currency or both—is a necessary component of such a monetary system.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Central bank research,
Digital currencies and fintech,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E42,
E5,
E50,
E58
Untapped Potential: Mobile Device Ownership and Mobile Payments in Canada
Staff Working Paper 2024-25
Marie-Hélène Felt,
Angelika Welte,
Katrina Talavera
We present a two-stage model of mobile phone and mobile payment usage that controls for selectivity. This reveals unobserved factors that work against having a mobile phone and toward mobile paying. Therefore, people who are unable to acquire or choose not to own a mobile device might have unmet payment needs.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Econometric and statistical methods
JEL Code(s):
C,
C3,
C39,
D,
D1,
D12,
E,
E4,
E42
Latest conferences
November 19, 2015
Bank of Canada Conference held on November 19 and 20, 2015.
Electronic Money and Payments
Content Type(s):
Conferences and workshops
Topic(s):
Digital currencies and fintech
October 26, 2015
Bank of Canada Conference held on October 26, 2015.
Payments System Modernization: Opportunities & Challenges
Content Type(s):
Conferences and workshops
Topic(s):
Digital currencies and fintech