Fiat-backed stablecoins are swiftly gaining ground as an alternative means of payment—but how can Canada harness the full potential of the digital revolution? Without a clear domestic framework to support the use of blockchain-based payments linked to the Canadian dollar, Canadian digital payments risk being eclipsed by foreign-issued stablecoins, which could weaken domestic regulatory control over the system as a whole. 

In this podcast, taken from a recent webinar, members of Torys’ Fintech team speak with Peter MacKenzie, Senior Policy Analyst at C.D. Howe Institute and co-author of The Window is Closing: How Canada Can Shape the Future of Stablecoins and Digital Payments, about the regulatory, economic, and policy considerations needed for Canada to establish a regulatory model for blockchain-based payments to compete in the digital payments market on a global scale.