Canadian CBDC would not improve inclusion, paper says

Bank of Canada research finds most citizens already have access to e-payments options

The Bank of Canada
Bank of Canada/Flickr

A Bank of Canada paper says creating a central bank digital currency (CBDC) will not improve financial inclusion, as some of the idea’s backers argue.

“Most consumers face few payment gaps or frictions and therefore might have relatively weak incentives to adopt and – especially – to use CBDC at scale”, the authors write.

The paper concludes relatively few Canadians suffer financial exclusion, and those do would struggle more to use a CBDC. Unmet Payment Needs and a Central Bank Digital

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