Bank of Canada Governor Says Digital Dollar Project Moving Past Trial Stage

[Galaxy]

The chief of Canada’s central bank has said its national digital currency initiative is progressing past the experimental phase.

In an interview with Reuters published Thursday, Bank of Canada (BoC) Governor Tiff Macklem said his institution is working with G7 member states on its plans for a central bank digital currency (CBDC).

The digital dollar project, he said, is now moving beyond the proof-of-concept stage and closer to a launchable product. However, the governor deflated expectations saying he thought there isn’t a need for one “right now.”
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